David Snow and Gill Torren, business media veterans and co-founders of Privcap, not only launched a new company in a torpid economy but in doing so challenged some common beliefs by focusing on digital video content and delivering it in comparatively long, 10-to-20-minute segments. Their website, www.privcap.com, debuted last September and now has about 120 videos on offer. Privcap, which serves the global private investment market, last month completed a round of seed financing from individual and institutional investors.
Digital Directions spoke to CEO Snow, who has been covering the global alternative investment industry for 14 years. For seven years, he held senior editorial roles at PEI Media, most recently as editor in chief, overseeing such titles as Infrastructure Investor, PERE (Private Equity Real Estate) and Private Equity International. Torren, who is president, previously held senior sales management positions at Condé Nast, Haymarket Media and United Business Media.
Digital Directions: Why is video your primary medium on Privcap.com?
David Snow: Private capital investors are investing in people and ideas. When investors are evaluating potential partnerships that will last for years, they want to see an interpersonal exchange of ideas, along with body language and tone of voice. They want to understand how a potential partner thinks. We achieve that through two primary formats, one-on-one interviews and moderated panels. I act as the interviewer or moderator and make sure these are substantive conversations.
DD: Producing high-quality video is expensive. How do you make the business model work?
Snow: We are starting life videocentric, so we don't have a...