Newfoundland tech company Celtx continues global growth despite slim odds

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 68 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 30%
  • Publisher: 92%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

CEO Mark Kennedy believes the Celtx’s growth and recent sale could help other technology companies in Newfoundland and Labrador looking to attract investment

When Mark Kennedy started telling people about his new St. John’s-based software-as-a-service company in 2000, they told him he had lost his mind.

Celtx is a cloud-based software that lets production teams digitally collaborate on nearly every step of the preproduction process, and it now has active subscribers in 167 countries. Mr. Kennedy believes Celtx’s growth and recent sale could help other technology companies in Newfoundland and Labrador looking to attract investment.

“There’s a really nice ecosystem that’s being established here in Newfoundland, with some really successful technology companies,” Mr. Kennedy said. This has attracted more capital to the area, in turn facilitating the creation of more startups. Executives began by targeting schools around the globe, as they figured students would be more open-minded to an innovative approach at preproduction. Many schools use Celtx in their media programs, for video projects and assignments, he said. Lots of students also use the software for their own passion projects, he said, writing screenplays and stage plays with a small team.

Ben Kaplan, Backlight’s CEO, met with Mr. Kennedy before Backlight’s investment thesis was developed. Once Backlight decided to focus on optimizing media creation, from ideation through to monetization, Mr. Kaplan realized Celtx could be a key part of his company’s approach.Despite the acquisition, Mr. Kennedy and the current Celtx team are staying in place.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian shares fall amid interest rate, earnings worriesAsian shares declined Monday after U.S. stocks ended last week on a tumble as global markets' expectations for higher interest rates continued to set the tone. Pretty racist CTV Respected Sir SeanFraserMP Kindly start the processing of caregiverspilotprogram applications, 18869 Canadian Employers, Applicants & Family Members are suffering & waiting their result since 2019 CitImmCanada jasrajshallan OMNIpunjabi JennyKwanBC JustinTrudeau CBCNews Keep falling this great news for small people like me.
Source: CTVNews - 🏆 1. / 99 Read more »