Synopsis
Through this acquisition, Minute Media plans to roll out a fully integrated solution for content creation, distribution, and monetisation, further deepening its partnership with top teams, leagues, and federations globally. The Flipkart cofounder Binny Bansal-backed company last raised $45 million from Bluestone Equity Partners in December 2023.
Minute Media, a global sports publishing and ad technology platform, has acquired Alpha Wave Global-backed video editing software startup VideoVerse, the company said on Tuesday.
With this acquisition, Minute Media plans to deploy a fully integrated solution for content creation, distribution, and monetisation, strengthening its partnership with top teams, leagues, and federations globally. The firm did not disclose the financial details of the deal.
VideoVerse’s existing clients will get access to Minute Media’s distribution and monetisation solutions, helping them improve returns on their video assets, it said. The company serves more than 450 customers worldwide, including FIFA+, Indian Super League, Pro Panja League, Willow TV, Portuguese Football Federation, and TV2, among others.
It is backed by the likes of Moneta Ventures, Bluestone Equity Partners, and Evolvence.
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Founded in 2016, VideoVerse helps content owners and rights holders automatically detect key moments, create real-time highlights, and distribute short-form video content.
It currently operates in the US, Europe, and the APAC region.
The Flipkart cofounder Binny Bansal-backed company last raised $45 million from Bluestone Equity Partners in December 2023.
According to the company, both VideoVerse and Minute Media will further strengthen and expand their AI footprint in India through continued investment, with a focus on advancing next-generation AI video capabilities.
“In addition, with VideoVerse’s technologies, Minute Media’s owned and operated brands, partners, and clients will experience and have the best in AI-powered creation,” said Asaf Peled, founder and chief executive of Minute Media.
Minute Media’s proprietary tech platform enables the creation, distribution, and monetisation of digital content experiences. It owns and operates sports content brands, including The Players’ Tribune, FanSided, and 90min, and serves as the publisher of Sports Illustrated and Sports Illustrated Swimsuit across digital and print platforms.
It has grown to 200 million monthly users and supports over 1,500 content creators and more than 400 distribution partners across 14 global markets.
Source: www.economictimes.indiatimes.com