Magisto provided an online

video editing Video editing is the post-production and arrangement of video shots. To showcase excellent video editing to the public, video editors must be reasonable and ensure they have a thorough understanding of film, television, and other sorts of videog ...

tool (both as a

web application A web application (or web app) is application software that is created with web technologies and runs via a web browser. Web applications emerged during the late 1990s and allowed for the server to dynamically build a response to the request, ...

and a

mobile app A mobile application or app is a computer program or software application designed to run on a mobile device such as a smartphone, phone, tablet computer, tablet, or smartwatch, watch. Mobile applications often stand in contrast to desktop appli ...

) for automated

and production. In 2019, the company was acquired by

Vimeo Vimeo ( ) is an American Online video platform, video hosting, sharing, and services provider founded in 2004 and headquartered in New York City. Vimeo focuses on the delivery of high-definition video across a range of devices and operates on a ...

for an estimated US$200 million. The Magisto app contained a library of music. The music, largely by independent artists, was sorted by mood and is licensed for in-app use. Magisto had a

freemium Freemium, a portmanteau of the words "free" and "premium", is a pricing strategy by which a basic product or service is provided free of charge, but money (a premium) is charged for additional features, services, or virtual (online) or physical ( ...

business model where users can create basic video clips for free. In addition, advanced business, professional and personal service tiers are available via various subscription plans, unlocking more features; such as longer videos, HD, premium themes, customization, and control features.

History

Magisto was founded in 2009 as SightEra (LTD) by Oren Boiman (CEO) and Alex Rav-Acha (CTO). Boiman, frustrated with the amount of time it took editing together videos of his daughter, wanted an easier to use application to capture and share videos. Boiman, a computer scientist that graduated from

Tel Aviv University Tel Aviv University (TAU) is a Public university, public research university in Tel Aviv, Israel. With over 30,000 students, it is the largest university in the country. Located in northwest Tel Aviv, the university is the center of teaching and ...

, followed with graduate work in

computer vision Computer vision tasks include methods for image sensor, acquiring, Image processing, processing, Image analysis, analyzing, and understanding digital images, and extraction of high-dimensional data from the real world in order to produce numerical ...

at the

Weizmann Institute of Science The Weizmann Institute of Science ( ''Machon Weizmann LeMada'') is a Public university, public research university in Rehovot, Israel, established in 1934, fourteen years before the State of Israel was founded. Unlike other List of Israeli uni ...

. Boiman developed several patent-pending

image analysis Image analysis or imagery analysis is the extraction of meaningful information from images; mainly from digital images by means of digital image processing techniques. Image analysis tasks can be as simple as reading barcode, bar coded tags or a ...

technologies that analyze unedited videos to identify the most interesting parts. The system recognized faces, animals, landscapes, action sequences, movements and other important content within the video, as well as analyzing speech and audio. These scenes are then edited together, along with music and effects. Magisto was launched publicly on September 20, 2011, as a

video editing software Video editing software or a video editor is software used for performing the post-production video editing of digital video sequences on a non-linear editing system (NLE). It has replaced traditional flatbed celluloid film editing tools and analo ...

through which users could upload unedited video footage, choose a title and soundtrack and have their video edited for them automatically. On the following day, Magisto was added to

YouTube YouTube is an American social media and online video sharing platform owned by Google. YouTube was founded on February 14, 2005, by Steve Chen, Chad Hurley, and Jawed Karim who were three former employees of PayPal. Headquartered in ...

Create's collection of video production applications. The Magisto iPhone app was launched publicly at the 2012 International Consumer Electronics Show (CES) in

Las Vegas Las Vegas, colloquially referred to as Vegas, is the most populous city in the U.S. state of Nevada and the county seat of Clark County. The Las Vegas Valley metropolitan area is the largest within the greater Mojave Desert, and second-l ...

. At CES, the company was also awarded first place in the 2012 CES Mobile App Showdown. In August 2012, Magisto launched the Android app on

Google Play Google Play, also known as the Google Play Store, Play Store, or sometimes the Android Store (and was formerly Android Market), is a digital distribution service operated and developed by Google. It serves as the official app store for certifie ...

. In September 2012, Magisto launched a Google Chrome App and announced

Google Drive Google Drive is a file-hosting service and synchronization service developed by Google. Launched on April 24, 2012, Google Drive allows users to store files in the cloud (on Google servers), synchronize files across devices, and share files ...

integration. In March 2013, Magisto claimed it had 5 million users. Google listed Magisto as an "Editors’ Choice" on its list of "Best Apps of 2013". In September 2013, the company claimed that 10 million users had downloaded the App. In February 2014, Magisto claimed that they had 20 million users, with 2 million new users per month. The company also confirmed investment from Mail.Ru. In September 2014, Magisto rolled out a feature called 'Instagram Ready' which allowed users to upload 15 second clips that are automatically formatted for

Instagram Instagram is an American photo sharing, photo and Short-form content, short-form video sharing social networking service owned by Meta Platforms. It allows users to upload media that can be edited with Social media camera filter, filters, be ...

. In the same month, Magisto launched a feature for

iOS Ios, Io or Nio (, ; ; locally Nios, Νιός) is a Greek island in the Cyclades group in the Aegean Sea. Ios is a hilly island with cliffs down to the sea on most sides. It is situated halfway between Naxos and Santorini. It is about long an ...

and Android users, called 'Surprise Me', which created video from still

photography Photography is the visual arts, art, application, and practice of creating images by recording light, either electronically by means of an image sensor, or chemically by means of a light-sensitive material such as photographic film. It is empl ...

on users’ smartphones. In October 2014, Magisto was placed 9th on the 2014 Deloitte Israel Technology Fast 50 list and named as a finalist in the Red Herring's Top 100 Europe award. In July 2015, Magisto released an editing theme dedicated to

Jerry Garcia Jerome John Garcia (August 1, 1942 – August 9, 1995) was an American musician who was the lead guitarist and a vocalist with the rock band Grateful Dead, which he co-founded and which came to prominence during the counterculture of the 196 ...

. In April 2019, the company was acquired by

, the IAC-owned platform for hosting, sharing and monetizing streamed video, for an estimated $200 million.

Financing

In 2011, the company received more than $5.5 million in a Series B

venture round A venture round is a type of funding round used for venture capital financing, by which startup company, startup companies obtain investment, generally from venture capitalists and other institutional investors. The availability of venture fundi ...

funding from Magma Venture Partners and Horizons Ventures. In September 2011, at the same time as the public launch of their web application, Magisto announced a $5.5 million Series B funding round led by

Li Ka-shing Sir Ka-shing Li (; born 29 July 1928) is a Hong Kong billionaire business magnate, investor, and philanthropist. He is the senior advisor for CK Hutchison Holdings and CK Asset Holdings, after he retired from the Chairman of the Board in May ...

’s Horizons Ventures. Li Ka-Shing is known for making early-stage investments in companies like

Facebook Facebook is a social media and social networking service owned by the American technology conglomerate Meta Platforms, Meta. Created in 2004 by Mark Zuckerberg with four other Harvard College students and roommates, Eduardo Saverin, Andre ...

Spotify Spotify (; ) is a List of companies of Sweden, Swedish Music streaming service, audio streaming and media service provider founded on 23 April 2006 by Daniel Ek and Martin Lorentzon. , it is one of the largest providers of music streaming services ...

SecondMarket Nasdaq Private Market (NPM) provides a secondary market trading venue for issuers, brokers, shareholders, and prospective investors of private company stock. Since inception, NPM has facilitated more than $40 billion in transactional volume and h ...

and

Siri Siri ( , backronym: Speech Interpretation and Recognition Interface) is a digital assistant purchased, developed, and popularized by Apple Inc., which is included in the iOS, iPadOS, watchOS, macOS, Apple TV, audioOS, and visionOS operating sys ...

. In October 2013, the company received $13 million in funding from

Qualcomm Qualcomm Incorporated () is an American multinational corporation headquartered in San Diego, California, and Delaware General Corporation Law, incorporated in Delaware. It creates semiconductors, software and services related to wireless techn ...

and Sandisk. In 2014, the company received $2 million in Venture Funding from Magma Venture Partners,

Qualcomm Ventures Qualcomm Ventures is the investment arm of Qualcomm Incorporated. Founded in 2000, Qualcomm Ventures is a corporate venture capital fund with 140+ active portfolio companies. Investing in startups targeting the wireless ecosystem, the group focus ...

, Horizons Ventures and the Mail.Ru Group.

Awards

* Magisto won first place at Technonomy3, an annual Internet Technology start-up competition in Israel. Judges of the competition included Jeff Pulver,

TechCrunch TechCrunch is an American global online newspaper focusing on topics regarding high tech, high-tech and Startup company, startup companies. It was founded in June 2005 by Archimedes Ventures, led by partners Michael Arrington and Keith Teare. I ...

editor Mike Butcher, investor Yaron Samid,

Bessemer Venture Partners Bessemer Venture Partners (BVP) is an American venture capital and private equity firm headquartered in San Francisco. Outside the United States, it has offices in India, Israel, Hong Kong, and the United Kingdom. In 2024, Venture Capital Journa ...

Israel partner Adam Fisher and Brad McCarty of The Next Web. * Magisto won first place at CES 2012 Mobile app competition, during the launch of Magisto iOS mobile app. * Magisto was awarded twice the Google Play Editor's Choice and was part of iPhone App Store Best App awards for 2013 and 2014, and Wired Essential iPad Apps. * Magisto was declared by

Deloitte Deloitte is a multinational professional services network based in London, United Kingdom. It is the largest professional services network in the world by revenue and number of employees, and is one of the Big Four accounting firms, along wi ...

as the 7th fastest growing company in Europe, the Middle East, and Africa in 2016.

References

{{Reflist Defunct software companies of the United States Film and video technology Software architecture Software companies disestablished in 2019 Software companies established in 2009 Video processing Vimeo Magisto Web development

History

Financing

Awards

See also

References