Facebook co-founder Eduardo Saverin and YouTube co-founder Jawed Karim are investing $8 mln in Series A funding into Qwiki, a startup pioneering the information experience via on-the-fly transformation of data into rich media narratives
Qwiki is a revolutionary new platform that will define the future of information consumption globally. I'm particularly excited to support the Qwiki team as their initial product gains momentum. It is always thrilling to be involved in the early stages of disruptive technology, said Saverin, who recent shot up to global popularity due to the movie, The Social Network's depiction of him as the victim of a scheming Mark Zuckerberg.
Qwiki is a game changer, said Jawed Karim. The team has succeeded in creating an entirely new media format that will drastically improve the web experience.
I am in a situation today where I can do what I love, which is help other entrepreneurs, Saverin told the New York Times. Facebook has been a big thing and will be a big thing. Qwiki is early stage, but they are on the path to be a game changer.
The funding follows the release of Qwiki's invite-only private Alpha of its reference product, for which the company received hundreds of thousands of user signups. Qwiki will use the $8 million to fund technology development and launch publicly on multiple platforms.
Co-founded by entrepreneur Doug Imbruce and Internet industry pioneer Dr. Louis Monier (founder of AltaVista), Qwicki started in September 2010 at the TechCrunch Disrupt Conference, where it also won the TechCrunch Disrupt Cup. The Company has released its private alpha and plans to launch publicly on multiple platforms soon.