![]() ![]() One of the most obvious applications will be in the realm of e-commerce, where users will be able to use the tech to build “shoppable” videos with links within the videos themselves to buying featured items but other applications can be technical (e.g. Wirewax will be bringing more interactive video functionality to Vimeo, specifically with a drag-and-drop interface. It’s been a years-long strategy for the company, with other acquisitions including the purchase of Livestream, which it says now powers town halls and other live events (a platform that was expanded earlier this month by way of a new virtual events product) and Magisto, another short-form video creator tool. To do that you have to materially lower the barriers.” We want to get every company using video every day, to get 1 billion knowledge workers using video. Our belief is that every startup has an interesting video feature to provide. The knock-on effect for Vimeo, she added, has been to become a consolidator of many of the smaller video companies that have emerged over the years to address different aspects of the creation process, to make a bigger product that is easier to address that demand, with “several acquisitions helpful in expanding our product suite to create an all-in-one professional video solution. “Companies are going from reactive to proactive, and employees are demanding it,” Sud said of the video push and how its customers are looking for more functionality in their video software. That’s accelerated a lot of organizations’ video strategies, whether that involves providing tools for internal teams to get work done, or creating marketing campaigns, or building new products themselves. ![]() ![]() The idea behind the deals is to bring in more tools specifically targeting Vimeo’s larger enterprise customers, CEO Anjali Sud said in an interview, to provide more creative tools that are less technical to help them feed the video beast: video consumption has skyrocketed in the last couple of years, fueled in no small part by COVID-19 and people spending more time at home and on their screens rather than in public places. It is also planning to integrate its features into its wider video creation dashboard to over time sell a wider set of tools both to those customers and those already with Vimeo. Vimeo plans to keep both platforms operational and continue serving existing customers, which include the likes of Walmart, Disney, Google, and Nike for Wirewax and HubSpot, Bloomberg, Condé Nast and Harvard University for Wibbitz. Both have large customers on their books. London-based Wirewax, meanwhile, also had a strategic backer in the form of the BBC, and other investors included Passion Capital and the Plug and Play incubator. ![]() The company has picked up short-form AI-based video creation platform Wibbitz, and Wirewax, which has built technology for marketers and other non-technical creatives to make objects in videos “shoppable” or linkable to other outside content.įinancial terms of the deals were not disclosed, but for some context, New York-based Wibbitz originally made its name as an Israeli startup that had built AI-based technology that automatically turned text into videos, a service that helped it raise around $30 million from investors that included a number of strategic backers (that is, customers) like the Associated Press, Bertelsmann, France’s TF1 and the Weather Channel, as well as traditional VCs like Horizons Ventures and Kima Ventures. Vimeo, the B2B video platform that spun out from IAC earlier this year, has made a pair of acquisitions aimed at building out the suite of features and tools it offers to businesses to create and run their own video strategies. ![]()
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