Mediaboss Marketing

Bundaberg man Mark Cracknell, 21, and Nathan Hoad, 25, of Hervey Bay have founded a social video network.

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A BUNDABERG man is one of two brains behind a multimillion-dollar social networking website that combines the features of Twitter, Facebook and YouTube.

Mark Cracknell, 21, who attended Bundaberg Christian Collage and St Luke's Anglican School, and Nathan Hoad, 25, of Hervey Bay, have founded Kondoot - a social video network that also allows its users to broadcast to a global audience free of charge while also offering a means to connect with family and friends.

The two have recently unveiled an ambitious plan to raise $10 million through an initial public offering, after raising $3.2 million in a funding round led by US investors.

Mr Cracknell said he was by no means certain his company would have the same global success as Facebook, but believed it was filling a gap in the social media market.

The background to how the website got started has similar undertones to Facebook's success story.

Mr Cracknell and Mr Hoad met while studying IT at the University of Queensland and, along with some of their friends, they started talking about creating a social media website.

They believed that while there were several different websites catering to different social media needs, there was no one site that could service all of them.

"There was no combined platform, or one place to do things," Mr Cracknell said.

Excerpt from:
Bundy man takes on world