Streaming Media

 
Streaming Media on Facebook
Streaming Media on Twitter
Streaming Media on LinkedIn
Streaming Media on YouTube
Sponsors

Vimeo Buys Video Creation Company Magisto for an Undisclosed Sum
Using Magisto's AI-powered video editing tools, Vimeo aims to help small businesses turn out professional-looking videos for less time and money.

Video sharing site Vimeo announced today it's in the process of acquiring video editing company Magisto. Neither company disclosed the terms of the deal, but unnamed sources put the price at $200 million. Vimeo's reasoning is that small companies that would like to do more with video lack the resources or budget to invest in video creation, so they need simple tools to accelerate the process. Magisto has created an artificial intelligence-powered editing system that does much of the work, promising results in minutes.

The deal should close by the end of the second quarter. Once it does, Vimeo and Magisto will create new video editing tools that will live on the Vimeo platform and tie into Vimeo's existing publishing and analytics tools, as well as its video stock marketplace. The new editing tools will be targeted to businesses and individuals.

"What we hear, again and again, is that businesses don’t feel equipped with the tools to create video at the speed, volume, and quality that their audiences and customers demand," wrote Vimeo CEO Anjali Sud in a blog post. "And that’s a problem we intend to solve."

Vimeo is based in New York City. Magisto has offices in California and Israel, with over 75 employees total.

Related Articles
Are there already too many SVODs on the market, even those dedicated to art house-lovers? IAC decides to scrap plans for its own competing service.
The video sharing site also doubles down on business customers at NAB, debuting an eCDN, a hardware encoder, and more.
The integration brings LinkedIn viewership analytics to the Vimeo dashboard, so members can compare data from multiple social channels in one place.
Today, Vimeo announced that it now supports the AV1 codec, which it believes will let it deliver videos with a low bitrate and high visual quality.