YouTube Buys Vidmaker, a Collaborative Video Editing Tool
YouTube has acquired Vidmaker, a Madison, WI-based startup that makes online video-editing software.
Vidmaker announced the deal on its website. No financial terms were disclosed, and Vidmaker CEO Dale Emmons said he can’t share any details.
“We’re really excited to be joining YouTube,” Emmons said in an e-mail message.
Vidmaker was co-founded in 2011 by Emmons, Ryan Bolyard, and Yuri Zapuchlak. Emmons and Bolyard are former software engineers with Sony Creative Software. Zapuchlak has worked as a software engineer with Intuit.
Vidmaker was part of the inaugural group of startups in the Techstars Cloud program in San Antonio, TX, in 2012. The program helped Vidmaker fine-tune its prototype video engine and its business plan, Emmons says on his LinkedIn page.
The company’s software allows multiple people in different locations to edit and share videos in real time via the cloud—a product that has obvious applications for Google-owned video-sharing behemoth YouTube.
Vidmaker has raised more than $650,000 from investors, according to SEC documents.
It’s unclear what will happen to Vidmaker’s Madison staff. The company’s website says that its service “will be shutting down as we make this transition,” and current users will be able to utilize the product through the end of January so they can finish current projects and download the videos they’ve created.