KODAKIT is currently available only in Singapore and has already onboarded more than 200 photographers
Iconic film & photography equipment company Kodak has launched a new digital platform – KODAKIT, which aims to connect freelance photographers with consumers and businesses. Users can select from a wide range of categories such as ‘birthday’, ‘event’, ‘portrait’, ‘ family’, ‘pet’ and even ‘real estate’.
The marketplace is available on desktop, iOS and Android.
While it is open to registration from photographers worldwide, its full services are currently only available in Singapore.
According to an official press release, it has already onboarded over 200 freelance photographers ranging from amateur to pro photographers.
The KODAKIT app has a dashboard for photographers to upload their portfolio.
While the lack of a stringent curation system may raise questions about the credibility and quality of photographers, KODAKIT believes through a customer-driven ratings system, these photographers will be incentivised to perform their jobs well.
Once the photos have been taken, the photographers send it to their customers’ private clouds embedded within KODAKIT.
To monetise, KODAKIT delivers the back office support for photographers and in turn receives a 20 per cent cut from each transaction.
Diversifying and pivoting
As one of the pioneers in the film and photography business, the Kodak brand has been synonymous with the field; the term “Kodak moment” has been widely used to describe picture-perfect occasions.
In the early 2000s, however, as the market shifted towards digital cameras and media, Kodak saw its profit margins dip significantly due to increasing competition, resulting in layoffs and factory closures. It filed for bankruptcy in 2012. Many have pinpointed Kodak’s inability to evolve and adapt quickly to rapidly shifting trends as the major cause of its failure.
Kodak managed to climb out of bankruptcy in late 2013 by laying most of its film business to rest and pivoting to focus on tech-focussed digital imaging for businesses.
KODAKIT is Kodak’s latest venture to capitalise on the new economy, and is part of the “Software and Solutions” division. It is run as a separate majority owned startup.
While KODAKIT is fully funded by Kodak, it is currently in talks with prospective investors for strategic investments.
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