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Trade Me founder Sam Morgan has teamed up with the original angel investors in his auction site to back an Auckland-based film and television production software company with its sights on Asia.
The company, ebus, develops editing software that allows production teams and their clients to access and collaborate on the same piece of video footage at the same time, regardless of their location. The system allows for footage to be sent around the world instantaneously and securely, eliminating the need for tapes or couriers.
Morgan's investment vehicle, Jasmine Investments, and angel investment company Movac have put $1.25 million into ebus - their first joint investment since their original partnership in Trade Me in 1999.
Movac director Dion Mortensen said the company was attractive because of the calibre of its chief executive, Carmine Masiello, the management team, and the opportunities in Asia.
"Carmine is a remarkable entrepreneur whose energy and drive are compelling. Like all things, timing is everything in investment, and right now the time is right for ebus in Asia.
"Broadband capacity has just reached the level where the ebus business model is viable. Suddenly Asia is a huge untapped market."
The company had its beginnings in Auckland's Icehouse incubator. It has set up a Singapore office, with an initial focus on India and Southeast Asia.
