Magisto

Transforming Images and Videos into Movies

Non Active, Apr 2019 due to acquisition

Company Overview

Snapshot

Founded in January 2009 by Oren Boiman and Alex Rav-Acha, Magisto operates with 11–50 employees. The company raised $29.1M across 5 funding rounds from 6 investors. In April 2019, Magisto was acquired by Vimeo for $200M, marking a significant exit for the video creation platform.

Business overview

Magisto provides a platform for video creation and sharing, enabling users to transform images and videos into high-quality movies. Its core technology utilizes artificial intelligence engines to analyze footage on visual, audio, and storytelling levels, automatically editing videos with music and effects. The company serves both business-to-consumer (B2C) and business-to-business (B2B) markets, operating within the social media, video-sharing, and digital content production sectors.

Strategic signal

In April 2019, Vimeo acquired Magisto for $200M. This acquisition highlights the strategic value of AI-powered video creation tools and Magisto's success in developing a platform capable of mass-scale video production, validating its technology and market position in the digital content landscape.

Company Intelligence Q&A

When was Magisto acquired and by whom?
Magisto was acquired by Vimeo in April 2019.
What was the acquisition amount for Magisto?
Vimeo acquired Magisto for $200M in April 2019, as reported by TechCrunch and Globes. This acquisition allowed Vimeo to integrate Magisto's AI-powered video creation capabilities into its platform.
What was a key product launch for businesses by Magisto?
In November 2018, Magisto launched Chant to help businesses accelerate growth on social media platforms.
What was a significant user milestone achieved by Magisto?
In May 2018, Magisto reached 100 million users for its instant video platform, as reported by Calcalistech. This milestone demonstrated the widespread adoption of its AI-driven video editing technology.
Which research firm recognized Magisto as a 'Cool Vendor'?
Magisto was named a "Cool Vendor" in Artificial Intelligence for Small and Midsize Businesses by Gartner in December 2018.

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