Aussie iPad mag developer wins new investors
Digital publishing platform attracts investor eye
The iPhone/iPad/Android revolution may or may not be the saviour of big publishers, but it's given an Australian-based publishing platform developer a handy leg-up.
Mogeneration, launched in 2008 as an iPhone app developer that switched its focus to digital publishing after winning the contract to create the iPhone version of Murdoch broadsheet The Australian, which it later replicated for the Android platform, has scored a multi-million dollar round of funding from some of Australia’s start–up investor elite.
Mogeneration has proved a hit in Australia's digital magazine market with its Oomph platform, which allows print publishers to extend their content to iPad, iPhone and Android powered tablets.
The investor roll-call includes, unsurprisingly, News Corporation executive and entrepreneur, Chris Hitchen, the MD and co founder of Getprice.com.au (acquired by News Digital Media). He joins Andrew Walsh and Simon Chamberlain, previously of Hitwise, in the capital raising.
The trio investors will join Mick Liubinskas from start-up incubator Pollenizer, and co-founder and CEO, Keith Ahern, on the Mogeneration board.
As well as News, Mogeneration clients include ACP Magazines, Haymarket Media Group, and Oxford University Press. Publications using its platform include the Australian Women’s Weekly, Shop ‘til You Drop and Gourmet Traveller.
Ahern said the capital raised will see Mogeneration expand its sales and marketing. He would not disclose the amount of capital raised but it is believed to be up to A$5 million.
He predicted that 25 to 30 percent of magazine circulation will be on tablets "within five years." ®