Previous blog posts have discussed how Banjo, a company which collates news from around the world via social media, obtained $100 million of funding from Japanese giant Softbank. Now the latest developments at Banjo are explored in more detail; this video article from entrepreneur and investor Mukesh Valabhji explains what is next for this innovative company.
Banjo was originally intended to help people to keep up with their friends’ activities; when its founder Damien Patton realised that there was no room for further growth in this area, he repurposed his company so that it collected and collated information from social media, allowing users of its technology to experience news and live events from around the world in real time.
Having secured the investment from Softbank, Banjo announced that it intends to spend the money on hiring more data scientists and also engineers. Its new creation, which has been called ‘crystal ball’, will be a powerful tool for news organisations such as the American NBC and the UK’s BBC. It will be able to alert journalists to breaking news, giving them access to rich content such as eye witness sources. It will also enable journalists to carry out research into ongoing investigations and report on events in real time as they are actually unfolding.
Banjo is redeveloping and enhancing its user interface, giving additional functionality. The ‘Banjo Discovery’ application gives journalists the resource of on the ground content, for instantaneous context. In the very time pressurised environment of news reporting, Banjo could give the crucial head start to get on the air ahead of competitors by using its published content.
The company has issued a press release stating that access to its crystal ball will be free of charge. Those using it will also have the benefit of its Trending Events dashboard, giving an easy way to stay ahead of the curve. Banjo’s success demonstrates how a company started by one person can become a global commercial success.