Magisto

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Magisto is a web application and mobile app that provides a free automatic video editing service for amateurs. According to the website, Magisto aims to solve the problem of video editing being too complicated and time-consuming by letting users edit their videos in a click.[1]

Technology[edit]

The Israel-based company has built its service on patent-pending image analysis technology that analyzes unedited videos and identifies the most interesting parts. The system recognizes faces, animals, landscapes, action sequences, movements and other interesting content within the video, as well as analyzes speech and audio. These scenes are then edited together, along with music and effects, into share-worthy clips.[2][3]

Automatic video editing[edit]

Automatic video editing products have emerged over the past decade in order to make video editing accessible to a broader consumer market. Automatic video editing technology does the work for the user, eliminating the need for a deeper understanding or knowledge of how to use complicated video editing software. Muvee Technologies introduced autoProducer, the first PC-based automatic video editing platform, in 2001. Other solutions, including Sony’s MovieShaker and Roxio Cinematic, followed in 2002.[4] As smartphones and consumer video recording devices become more prevalent the need for an easier video solution has led to a renewed interest in automatic video editing.[5]

History[edit]

2009[edit]

Magisto was founded in 2009 as SightEra (LTD) by Dr. Oren Boiman (CEO) and Dr. Alex Rav-Acha (CTO) with the mission of making it easy for anyone to edit videos, regardless of video editing expertise. The inspiration for Magisto came when CEO Boiman’s first daughter was born in 2005. Boiman, like many others, was frustrated with the fact that had to spend many hours editing together videos of his daughter and he saw the need for an easier way to capture and share video memories without the time consuming process of video editing.[6]

2011[edit]

  • Magisto was launched publicly on September 20, 2011, as an automatic video editing web application through which users can upload their unedited video footage, choose a title and soundtrack and have their video edited for them automatically. Unlike other video editing software and applications, Magisto doesn’t require any knowledge of how to edit videos.[7]
  • On September 21, 2011 Magisto was added to YouTube Create’s collection of video production applications, introducing the application to the YouTube community.[8]

2012[edit]

  • The Magisto iPhone app was launched publicly at the 2012 International Consumer Electronics Show (CES) in Las Vegas. At CES, the company was also declared winner of the 2012 CES Mobile App Showdown.
  • On August 28, 2012 Magisto launched the Android app on Google Play.
  • On September 13, 2012 Magisto launched a Chrome application and announced Google Drive integration.

2013[edit]

  • On March 7, 2013, Magisto reported reaching 5 million users.[9]

Funding[edit]

In September 2011, at the same time as the public launch of their automatic video editing web application, Magisto announced a $5.5 million Series B funding round led by Li Ka-shing’s Horizons Ventures. Li Ka-Shing is known for making early-stage investments in companies like Facebook, Spotify, SecondMarket and Siri.[10][11] Other investors include Magma Venture Partners.

Business model[edit]

Magisto has a freemium business model. Users can create their video clips for free. However, they plan to offer premium features like HD ([High-definition video]), unbranded videos and the ability to download videos in the future.[12]

Awards[edit]

Magisto won first place at Technonomy3, an annual Internet Technology start-up competition in Israel. Judges of the competition included Jeff Pulver, TechCrunch editor Mike Butcher, investor Yaron Samid, Bessemer Venture Partners Israel partner Adam Fisher and Brad McCarty of The Next Web.[13]

See also[edit]

References[edit]

  1. ^ Magisto- FAQ -
  2. ^ September 20, 2011. Magisto automates online video editing for you by Laura Locke
  3. ^ September 20, 2011. Grove; Automated Video Editing Site Makes Movie Magic Out of Raw Footage by Jennifer Van
  4. ^ April 23, 2002. Cinematic [1] by Jan Ozer
  5. ^ Jul 11, 2011. Smartphone Adoption and Usage [2] by Aaron Smith
  6. ^ August 16, 2011. Meet The Magisto Team. CEO & Co-Founder: Oren Boiman [3] by Magisto
  7. ^ September 20th, 2011. Magisto raises $5.5M for automatic video editing tool Magisto raises $5.5M for automatic video editing tool by Robin Wauters
  8. ^ September 21, 2011. Additional Creator Tools from YouTube by Shenaz Zack Mistry, Product Manager
  9. ^ Magisto Hits Milestone of 5 Million Users With 1 Million Downloads in the Last Month, PRNewswire, March 7, 2013
  10. ^ June 2009,Hong-Kong. Li Ka-shing Li Ka-shing
  11. ^ September 2011. Billionaire Li Ka-shing Sinks $5M Into Automatic Video Editor Magisto http://www.forbes.com/sites/parmyolson/2011/09/20/billionaire-li-ka-shing-sinks-5m-into-automatic-video-editor-magisto/ by Parmy Olson, Forbes Staff
  12. ^ Sep 20, 2011. "Magisto raises $5.5M to magically edit your videos" by Ryan Lawler
  13. ^ Techonomy 3 – Platform for Israeli companies to announce their product internationally [4]

External links[edit]