Thursday, September 28, 2023

Junkee founder Tim Duggan backs media startup that aims to make it easier for everyone to be a publisher with $500,000 in revenue

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A Sydney startup looking to make it easier for people to become publishers has raised $500,000 in pre-seed funding.

The round was supported by Tim Duggan, co-founder of Junkee Media, Startmate and Australian deep-tech VC Boson Ventures.

Storipress claims that creating digital media is made easier by giving aspiring publishers the tools they need right away, with no code and the ability to monetize with built-in payment rails.

While WordPress has been the primary publishing platform for new media digital companies and bloggers, rivals such as Joomag, Wix, and Readz have also become major players, alongside sites such as Medium.

Storipress co-founder and CEO Alex Pan said: every business is now a media company and they are lowering the bar for starting a media business.

“It’s where the next generation of media startups start their lives, but with the added benefit of being able to scale to writing teams of 100 people,” he said.

“Everyone involved in the publishing experience benefits Storipress by meeting the needs of the publisher first. If all publishers have the chance to succeed, the entire media ecosystem wins.”

Duggan, now chairman of the Digital Publishers Alliance, said he was intrigued by Pan’s “big, clear vision” to make professional publishing accessible to everyone

“I’ve seen him and the team take an impressive, publish-first approach that really isn’t code, adds innovative workflow management tools, and is far more user-friendly than anything else on the market,” he said.

“This can really help anyone to become a publishing house powerhouse in just a few minutes, and I’m excited to see where it is could go on in the coming years.”

The startup’s game comes as new digital players grapple with the potential of web3 and the ability of content creators to monetize their talents to find new media niches.

Storipress has been accepted into Startmate’s Winter 22 cohort.

NOW READ: Generation Instagram startup The Daily Aus funds $1.2 million from Canva execs and former Nine boss David Gyngell


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