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Wochit Appoints New Chief Executive Officer

Wochit Inc. CEO Keith McAllisterClick here for high-resolution version

NEW YORK, NY--(Marketwired - June 04, 2013) - Wochit Inc., the company setting new standards for fast and economical production of high-quality video, announced today the appointment of Keith McAllister as CEO. McAllister brings more than 25 years of domestic and international experience in journalism, digital publishing, and content syndication. He is leading Wochit from its New York City corporate headquarters.

"Wochit was founded so that any organization could publish video content based on its audience's interests, through what is effectively a dedicated newsroom without the financial or operational burden. Keith strengthens this value proposition by bringing to our leadership team his outstanding qualifications as a newsman and media executive," says Dror Ginzberg, co-founder, President, and COO of Wochit. "Wochit customers will benefit from Keith's insight, experience and dedication to satisfying the need for topical, timely and high-quality video."

McAllister has been advising digital media and e-commerce companies and non-profit organizations, and evaluating media acquisitions financed with private equity. He was General Manager of Global Consumer Media for Thomson Reuters, responsible for web, mobile and other media products, in 17 markets and 12 languages. McAllister began his career at CNN, where he worked for more than 17 years, rising to Executive Vice President and Managing Editor of US Newsgathering. After his time at CNN, McAllister served as CEO of content marketplace Mochila. He is on the board of AmeriCares, a global health organization.

"Wochit offers something every publisher and brand wants right now: a way to cost effectively achieve scale with video that is both immediately available and high quality," says Wochit CEO Keith McAllister. "Wochit's founding team has built a brilliant platform poised to revolutionize how we interact with video, which I see as an important advance comparable to the emergence of internet streaming, non-linear editing and digital asset management."

President and COO Dror Ginzberg and Chief Technology Officer Ran Oz, the co-founders of Wochit, have assembled a team of experts in media production and related technologies to develop the company's radical platform. Triggered by breaking news and trending stories, a sophisticated combination of automated technology, human editorial input, licensed media content from the world's best providers and industry-leading graphics are combined to create high-quality video. Wochit does this at a fraction of the time, effort and expense of today's industry norm, for a solution that benefits any publisher, of any size, that needs to achieve scale in video offerings.

"Wochit has developed the right solution at the right time with the rising importance of fresh video content to corporations and to anyone who publishes on the web, and Keith is the right leader to execute on the company's market opportunity," says Dean Gilbert, a member of Wochit's Board of Directors, a Venture Partner with Redpoint Ventures, and a Senior Advisor to YouTube.

Wochit has recently announced its video platform's debut, partnerships with major content sources and media distributors, and a $4.75 million round of venture capital financing.

About Wochit:
Wochit produces broadcast-quality video as news breaks or topics start to trend. Web sites, mobile applications, news services, blogs and other publishing entities utilize the company's platform for new revenue opportunities and better audience engagement. By working with Wochit, large publishers economically scale production and increase speed to market, while small publishers, for the first time, can have what amounts to their own newsroom for video production. Backed by Redpoint Ventures, Cedar Fund and Greycroft Partners, Wochit is based in New York, with offices in Tel Aviv.