So Media raising growth capital through ECF

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So Media team
So Media team: (from left) Julia D'Orazio, Editor; Jason Balchand, CCO and Adam Barrell, Founder and CEO. Image Supplied.

What started with a tweet, quickly became a voice for social media users of Perth and has evolved into much more. 

One simple tweet in October of 2010 set the course…

Tweet Perth’s founder Adam Barrell sent a call to action for Perth to follow and follow they did.

Through the creation of a website that was able to aggregate and pull tweets in real-time across news, traffic, sports, events, and much more, Tweet Perth would go on to become the most influential Twitter account locally, with more than 100,000 followers.

At the time, this was significantly more than mainstream media news sites.

Fast forward to 2021 and Tweet Perth has evolved into a new media company So Media.

So Media Group has over 460,000 followers and regularly hits over one million website views across their various platforms a month. This includes their flagship So Perth, a national travel platform, So Where Next, and a national entertainment platform, So Binge.

So Media Group isn’t your typical online publisher. It is also underpinned by a chatbot and content agency, and is the first media company in the country to look to raise capital via equity crowdfunding.

They have chosen the Birchal platform – the same one Bunsters raised $2M on last year. Investors can investors from as little as $50, and to date, they have already raised over $100,000.

The minimum offer is $150K, and maximum $350K, on a pre-money valuation of $4 million.

“We thought a lot about the best way for us to raise expansion capital,” founder Adam Barrell told Startup News.

“Being able to activate our community and have people who have been following us for years be able to invest and grow with us seemed like an opportunity too good to pass up.”

“Being able to get hundreds of our community invested in So Media Group will also allow us to create a highly-engaged army within our community who will now have even more reason to engage and share our content.”

Once the fund-raising is complete, what are the plans for 2021?

“We currently have a small but mighty team which has allowed us to punch above our weight and generate results exceeding platforms that have far more resources,” said Adam.

“So the first thing we want to do is double down on our current platforms and ensure they receive the content and distribution they deserve so that we can continue to drive that growth.”

“Secondly, we will look to expand into the east coast with the acquisition of platforms in the Melbourne and Sydney markets. This would allow So Media Group to have a national presence and attract national media budgets across three key states and the two key verticals of travel and entertainment.”

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To find out more about the campaign, visit their Birchal page.