Vzaar, an online video platform aimed at SMEs that want to publish video, has been plugging away since 2007, but seemed to go in an odd direction – aiming at eBay sellers who wanted to sex-up their auctions. Needless to say it was the low end of the market and eBay auctioneers tend not want to spend money on a dedicated video platform outside of free ones like YouTube. But after bringing in new management, new CEO Stephen McCluskey, formerly with PA consulting group, has pivoted the company towards a more upstream market and gone out looking for new funding.
Through various twists and turns on that funding road it’s now found further funding – terms undisclosed – through a slightly left-fieldsource, namely Hollywood director Oliver Stone, famous for movies on The Doors, JFK and Wall Street. He’s invested alongside existing investor Sophrosyne Ventures LLP.