Magisto
| Company type | Private |
|---|---|
| Industry | Video editing software, Technology |
| Founded | 2009 |
| Founder | Oren Boiman, Alex Rav-Acha |
| Fate | Acquired by Vimeo |
| Successor | Vimeo |
Key people | Oren Boiman (CEO), Alex Rav-Acha (CTO) |
| Products | Automated online video editing platform (web and mobile apps) |
| Parent | Vimeo |
Magisto provided an automated online video editing solution accessible through both a web application and a mobile app. In 2019, Vimeo acquired the company for approximately US$200 million.
The platform included a licensed music collection, mainly sourced from independent musicians, organized by mood to facilitate in-app usage.
Magisto operated on a freemium basis, enabling users to create basic videos at no cost, while subscription tiers granted access to enhanced features such as extended video length, HD resolution, premium themes, and additional customization tools.
History
Established in 2009 under the name SightEra (LTD) by Oren Boiman (CEO) and Alex Rav-Acha (CTO), Magisto originated from Boiman’s ambition to streamline video editing. Boiman, a computer scientist specializing in computer vision, developed proprietary image analysis technology—currently patent-pending—that detects significant moments within raw footage by identifying faces, animals, landscapes, action scenes, and audio signals. These components were then automatically combined with music and visual effects.
Magisto’s public debut occurred on September 20, 2011, launching as a web-based video editing service that allowed users to upload clips and receive automatically produced videos featuring selected titles and soundtracks. Shortly after, the platform integrated with YouTube Create.
The iPhone version premiered at the 2012 International Consumer Electronics Show (CES), where it secured first place in the CES Mobile App Showdown. The Android application was released in August 2012, followed by the announcement of a Google Chrome App and integration with Google Drive in September of the same year.
By March 2013, Magisto had amassed 5 million users and was honored with Google’s "Editors’ Choice" distinction among the "Best Apps of 2013." The user base expanded swiftly to 10 million downloads by September 2013 and reached 20 million users by February 2014, supported by investment from Russian internet conglomerate Mail.Ru.
In September 2014, Magisto rolled out 'Instagram Ready,' enabling automatic formatting of 15-second clips tailored for Instagram, alongside launching 'Surprise Me,' a feature that generates videos from still images on both iOS and Android platforms.
The company earned notable recognition including placing ninth on Deloitte Israel's Technology Fast 50 list in 2014 and being shortlisted as a finalist for Red Herring's Top 100 Europe award.
In July 2015, Magisto introduced a specialized editing theme dedicated to musician Jerry Garcia.
Ultimately, Vimeo acquired Magisto in April 2019 to bolster its video hosting and monetization services through automated video creation technology.
Financing
In 2011, Magisto raised over $5.5 million during a Series B funding round led by Magma Venture Partners and Horizons Ventures. This financing coincided with the public launch of their web app and was spearheaded by Li Ka-shing’s Horizons Ventures, notable for early investments in companies such as Facebook, Spotify, and Siri.
October 2013 saw the company secure $13 million from Qualcomm and Sandisk. The following year, an additional $2 million was raised from existing investors including Magma Venture Partners, Qualcomm Ventures, Horizons Ventures, and Mail.Ru Group.
Awards
- Magisto earned first place at Technonomy3, an Israeli internet technology startup competition judged by industry experts like Jeff Pulver and TechCrunch’s Mike Butcher.
- It also won first place at the CES 2012 Mobile App Competition coinciding with its iOS app launch.
- The platform received Google Play Editor's Choice honors twice and was featured among the Best Apps on the iPhone App Store in both 2013 and 2014, as well as appearing on Wired’s Essential iPad Apps list.
- Deloitte ranked Magisto as the seventh fastest-growing company across Europe, the Middle East, and Africa in 2016.
See also
- Video editing
- Video server
- Edit Decision List
- Photo slideshow software
- Video scratching
- Video editing software
- Comparison of video editing software
- List of video editing software
- Web application
- Web Processing Service
- High-definition video