Newspaper article The Journal (Newcastle, England)

Founders Change Focus as Tech Firm Collapses

Newspaper article The Journal (Newcastle, England)

Founders Change Focus as Tech Firm Collapses

Article excerpt

Byline: start-ups robert gibson

ONE of the North East's most hotly-tipped tech start-ups has collapsed after three years in business., which was based at Campus North, Newcastle, offered a platform that synced tweets to livestream video in real-time.

In its short life, the company attracted a legion of admiring fans, not to mention backing from the likes of Steve Pankhurst, founder of Friends Reunited.

As it was about to embark on its latest stage of development, however, a potential investment of PS350,000 fell through, exposing what its founders now believe to be a flawed commercialisation strategy.

"It all came as quite a surprise," said Kev Price, who launched Reframed in 2013 with Jo York. "One moment, everything was great and two weeks later it wasn't.

"We realised the business was not commercially viable; our investment strategy was wrong and we didn't really have a product-market fit.

"What we would have liked to do was build a community-based platform that's user-first, but that's a long-term vision and very difficult to commercialise." He added that it was difficult having to break-up a "close and likeminded" team of six.

"But they are a talented group of people and highly sought after, so they were able to find new jobs quickly," he said.

Describing itself as "the glue between Twitter and video", Reframed sought to provide the "ultimate on-demand and live video viewing experience", syncing social media reaction to the timelines of videos to ensure they were always in context.

The innovation meant users could join a meaningful conversation with those who had watched the same video at a different time.

Mr Price and Ms York, who had previously launched the web development agency Ki Media, got their first big break with the concept being accepted on to the Ignite accelerator programme, backed by PS100,000 of support from Northstar Ventures and IP Group, which followed on with additional backing. …

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