clapit Breaks Australian Record with Seed Funding of AU$2.57M

LOS ANGELES, April 6, 2016 /PRNewswire/ -- clapit, a Sydney-based startup with U.S. operations in Los Angeles, today announced it has raised AU$2.57 million in seed funding from investors that include Australian business leaders Mark Moran and Paul Siderovski. Currently in advanced beta testing, the company is investing in the creation and launch of its global social media app, which crowdsources the world's best videos, music, images and rich media. This investment represented the largest seed round for a mobile application in Australia in 2015, and it was also the largest of its kind for a mobile application funded entirely by Australian investors.

Founded by Paul J. Bedwell, Mary Jane Bulseco and Stan Tsvirko, clapit takes advantage of the expanding social media landscape as a best content democracy where humans vs. algorithms amplify the most compelling content. With one clap, users are able to endorse, bookmark, rate and broadcast their favorite music, podcasts, fashion, art, film, design, sport, comedy and lifestyle content. The most clapped content from the 'friends' feed migrates to the 'best' feed where it can be viewed by the global clapit community.

"Bringing together the best aspects of a browser and social network, clapit complements and enhances existing social media usage – offering an easy way to amplify and engage with content from across multiple channels," said Paul Bedwell, clapit Founder and CEO. "We are pleased with the response from the Australian investment community to clapit and look forward to rolling out our app in the U.S. and Australia simultaneously later this year. The more social media and platforms that exist­­ – the more useful and compelling clapit becomes as a simplified platform for viewing rich media, like video, podcasts and music."  

clapit acts as 'the people's champion' of social media, helping emerging artists and content creators build communities, raise their profile and create a positive platform for their work. By acting as a browser and community for the best content on the web, clapit brings users back to the individuals, websites, merchants and social networks where the content originates. As the first application to introduce selfiereactions, clapit's fun popup notifications personalize the experience of sharing and interacting with favorite original and shared content from around the world.

"The 'Like' button lives within Facebook, the 'Heart' button lives within Instagram and Twitter – clapit crowdsources the best content from anywhere online with a clap button that lives in the IOS share menu," said Founder and CMO Mary Jane Bulseco. "By creating a social browser with key communities for music, fashion, art, film, design, comedy, lifestyle and action sports, clapit empowers creatives and consumers looking for the best content on the web. If you love it, clapit!"

clapit beta is currently available in the iOS app store. For more information visit http://clapit.com/.

About clapit

Based in Sydney with U.S. operations in Los Angeles, clapit's simple premise is that the best content easily gets lost in online clutter. clapit is a new global social browser and app for capturing, celebrating and creating community around the world's best videos, music, images and rich media. With key communities for music, fashion, art, film, design, comedy, lifestyle and action sports, clapit is a valuable new resource for content creators and consumers. For more information, visit http://clapit.com/.

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SOURCE clapit

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