Vimeo has taken another big step in our mission to empower you to tell exceptional stories. I am excited to share that we agreed to acquire Magisto, an innovative video creation service based in Israel.
The Magisto team is a brilliant group of video technologists who have spent the last decade helping over 100 million people create videos online. During that time, they developed proprietary technology and a deep expertise in short-form video storytelling — everything from intuitive mobile experiences to cutting edge AI to powerful video editing tools.
We plan to leverage Magisto’s technology to enable you, our community, to take advantage of the massive adoption of video by businesses of all sizes. Because today, every small business, marketer, and brand needs video to communicate effectively, whether on social media, their website, or other destinations. That means they need to create high-quality professional videos, and lots of them. 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. And that’s a problem we intend to solve.
Following the completion of this acquisition, we’ll be integrating Magisto’s technology into Vimeo to bring you a new level of professional quality video creation. In the future, you can look forward to the following from Vimeo:
- Sleek, simple video creation: you’ll be able to make, edit and distribute your social media and product videos through Vimeo, with just a few taps or with full creative control.
- Community-driven storytelling: elevate your brand storytelling with the help of our world-class creative community. Building on our launch of Vimeo Stock, we will introduce new marketplaces for video professionals and businesses to collaborate together in the video creation process.
- All-in-one video marketing: you can stop using multiple platforms for your video needs. Vimeo will serve as the single platform for your entire video marketing strategy, enabling you to create, edit, host, distribute, monetize, and measure your videos in one seamless workflow.
With these steps, more businesses will be able to make videos with professionalism and ease. And our creative community will be their partners in bringing quality and craft to those stories. These are ambitious goals, but entirely possible with the combined force of two companies who believe in the power of technology to lower the barriers for quality storytelling.
We look forward to completing the acquisition and showing you what we can do together.