Pixmoto is set to launch its new video recipe player globally which will take consumers from inspiration all the way to the plate using an interactive video platform and distribution network.
The successful completion of a significant equity round investment from existing shareholders and stakeholders will provide Pixmoto with its next level of growth in the expanding online grocery market.
“What the team at Pixmoto has built is incredible. They have managed to leverage an innovative video technology solution and build out multiple global distribution channels,” said Colin McEown, a serial entrepreneur with extensive experience in starting, building and exiting software technology companies who was the lead investor in the recent equity round.
“The most exciting part is they are focused on achieving this through profitable growth, not growth at all costs.”
Co-founder and CEO Simon Knapp said the new player used Pixmoto’s distinctive interactive e-commerce interface, customized to suit the online grocery experience to allow consumers to buy directly online.
“Our food player provides the connection for online food retailers to really accelerate their online sales channel directly from the video, which is one of the most powerful mediums for engaging a customer.”
Pixmoto’s technology is a leader in the Australian market, where major retailers are looking to build stronger relationships with suppliers to help combat the ‘Amazon effect’ which is disrupting the retail market.
“We have already built out our video commerce integration to Amazon Alexa – the first in the world to achieve this – and are in the process of amassing a 25,000 strong video library to bring life to the food recipe lists used by publishers,” Mr. Knapp said.
Pixmoto has also secured a number of global food content sites since the player was launched in February 2018, including one of Australia’s leading content agencies specializing in cooking and food media.
“We're entering the market at an incredible time with our recipe player given what is happening globally in the online grocery space, which is expected to double from $150 billion in 2017 to $334 billion by 2022,” he said.
Amazon’s acquisition of Whole Foods last year has had a dramatic effect on the U.S. grocery market. Major retailers are now working to build necessary infrastructure to support online growth. Several major supermarkets are forming delivery partnerships with Instacart, while Target has acquired the four-year-old delivery company Shipt for a staggering $550 million.
Buzzfeed’s Tasty, launched in 2015, significantly changed the food recipe video landscape with its introduction of the ‘hands and pans’ style of videos which showed hands creating dishes.
“Our new recipe player is taking what’s already there in terms of product placement and elevating it into a new digital realm by providing leading publishers, retailers and bloggers an innovative revenue alternative to pre-roll video players – those ads which play before the main video.”
Mr. Knapp said the rise of Ad Blockers suggested consumers don’t like video ad formats being used by publishers and were looking for more engaging and contextually native video formats.
Pixmoto’s food player offers a more engaging video experience for customers and provides flexible formats such as recipe pages, recipe lists, and native advertising, including:
- An Assisted Cooking feature which displays step by step instructions next to the video content.
- Multiple e-commerce features which allow viewers to buy ingredients, cookbooks, cookware equipment or featured products straight from the video.
Mr. Knapp said food recipe videos never die because the ingredients would stay the same, which creates unlimited growth potential and global distribution opportunities.
“We're exploring a number of distribution and content syndication channels to open up e-commerce pathways for consumer packaged goods brands looking to connect online commerce pathways to video content.”
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For media inquiries please contact Simon Knapp on +61 420 212 267 or simon@pixmoto.com.
About Pixmoto
Pixmoto is redefining the e-commerce landscape by marrying compelling video content with an intuitive and interactive e-commerce experience, opening up new revenue streams for bloggers, publishers and retailers.
With offices in Australia and the United States, Pixmoto is supported by an extended team of more than 30 consultants around the world, plus dedicated teams in the Philippines and South America.
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Original Source: Pixmoto's Interactive Video Recipe Player Will Take Consumers From Inspiration to the Plate
