Category: UNCATEGORIZED

15 Apr 2019

Daily Crunch: Turmoil at HQ Trivia

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here.

1. Mutiny at HQ Trivia fails to oust CEO

This week’s banishment of host Scott Rogowsky was merely a symptom of the ongoing struggle to decide who will lead HQ Trivia.

According to multiple sources, more than half of the startup’s staff signed an internal petition to depose CEO Rus Yusupov, whom they saw as mismanaging the company. But Yusupov then fired some core supporters of the mutiny, leading to a downward spiral of morale that mirrors HQ’s plummeting App Store rank.

2. Vimeo has acquired short-form video-creation platform Magisto, reportedly for $200M

Magisto is a startup founded in Israel that currently has more than 100 million users. It’s focused on providing tools to create and edit short-form videos, providing not just editing but sourcing of music, stock photos and other elements.

3. Match Group restructures exec team with focus on Asia

Specifically, the company has appointed three new general managers in Asia to focus on areas like Japan, Taiwan, India, South Korea and other parts of Southeast Asia.

Tesla CEO and SpaceX founder and chief executive Elon Musk. (AP Photo/Chris Carlson, File)

4. Tesla is raising the price of its full self-driving option

In a few weeks, Tesla buyers will have to pay more for an option that isn’t yet completely functional, but that CEO Elon Musk promises will one day deliver full autonomous driving capabilities. Musk tweeted Saturday that the price of the company’s full self-driving option will “increase substantially over time,” beginning on May 1.

5. Parrot’s latest drone targets professionals with a thermal camera

With this technology, the French company is hoping to open up its drone offering to a wide range of fields that can use the technology for things like surveillance and inspection.

6. This week’s TechCrunch podcasts

The Equity team talks IPOs with former Evernote executive Phil Libin, while Original Content reviews “Us” and interviews the director of Netflix’s “Legend of Cocaine Island.”

7. The definitive Niantic reading guide

As we did for our Patreon EC-1, we’ve pored through every analysis we could find on Niantic and have compiled a supplemental list of resources and readings that are particularly useful for getting up to speed on the company. (Extra Crunch membership required.)

15 Apr 2019

Unfolding the Samsung Galaxy Fold

The Galaxy Fold is real. I’ve held it in my hands — a few of them, actually. Samsung’s briefing this morning was lousy with the things, in different colors and different states of unfolded. A month or so ago, this was anything but a given.

After eight years of teasing a folding device, Samsung finally pulled the trigger at its developer’s conference late last year. But the device was shrouded in darkness. Then in February, it took the stage as the Galaxy Fold, but there was no phone waiting for us. Ditto for Mobile World Congress a week later, when the device was trapped like a carbonite Han Solo behind a glass display.

With preorders for the phone opening today, ahead of an expected April 26 sale, things were getting down to the wire for Samsung. But this morning, at an event in New York, the Galaxy Fold was on full display, ready to be put through its paces. We happily did just that in the hour or so we had with the product.

Once you get over the surprise that it’s real and about to ship, you find yourself pretty impressed with what Samsung’s done here. It’s easy to get frustrated about a product the company’s essentially been teasing since showing off its first foldable display at 2011, but a radically new form factor is an easy contender for first-generation woes. The fold, on the other hand, is a device that’s been run through the wringer.

Samsung’s already shown us what fold testing looks like in a promotion video that debuted a few weeks back. The handset was subject to 200,000 of those machine folds, which amounts to a lot more than the life of the product. And yes, before you ask, they were subjected to drop testing, the same sort of violent gadget abuse Samsung puts the rest of its gadgets through — both open and closed.

Ditto for the eight-point battery test it’s been subjecting all of its devices to since the Note 7. That’s doubly important given the fact that the Galaxy Fold sports twice the battery. All told, it has 4380mAh, split in two, on either side of the fold. That amounts to “all day battery life” according to Samsung. That’s the same claim you’ll get on most of these devices ahead of launch. Though the Fold apparently presents an extra layer of ambiguity, given that the company isn’t entirely sure how people are actually going to use the thing, once they get it in their hands.

The folding mechanism works well, snapping shut with a satisfying sound, thanks in part to some on-board magnets hidden near the edge. In fact, when the Fold is lying screen down, it has the tendency to attract pieces of metal around it. I found myself absent-mindedly opening and closing the thing. When not in use, it’s like an extremely expensive fidget spinner.

Samsung’s done a remarkable job maintaining the design language from the rest of the Galaxy line. But for the odd form factor, the Fold looks right at home alongside the S10 and the like. The rounded metallic corners, the camera array and, yes, the Bixby button are all on board here.

The edges are split in two, with each screen getting its own half. When the Fold is open, they sit next to each other, with a small gap between the two. When the phone is folded, they pull apart, coming together at a 90 degree angle from the hinge. It’s an elegant solution, with a series of interlocking gears that allow the system to fold and unfold for the life of the product.

Unsurprisingly, Samsung tested a variety of different form factors, but said this was the most “intuitive” for a first-gen product like this. Of course, numerous competing devices have already taken different approaches, so it’s going to be fascinating watching what the industry ultimately lands on when more of these products are out in the world.

Unfolded, the device is surprisingly thin — a hair under the iPhone XS. Folded, it’s a bit beefier than two iPhones, owing to a gap between the displays. While the edges of the device come into contact when closed, they form a long, isosceles triangle, with a gap that increases as you move toward the middle.

Unfolded, the seam in the middle of the display is, indeed, noticeable. It’s subtle, though. You’ll really only notice it as your finger drags across it or when the light hits it the right way. That’s just part of life in the age of the folding phone, so get used to it.

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The inner display measures 7.3 inches. Compare that to, say, the iPad Mini’s 7.9. So, small for a tablet, but way too big to stick in your pocket without folding it up. The size of the interior display renders the notch conversation a bit moot. There’s actually a pretty sizable cutout in the upper-right corner for the front-facing camera.

Samsung’s been working with Google and a handful of developers, including WhatsApp and Spotify, to create a decent experience for users at launch. There are two key places this counts: app continuity and multi-app windows. The first lets you open an app on the small screen and pick up where you left off on the big one, once unfolded. The second makes it possible to have three apps open at once — something that’s become standard on tablets in the last couple of years.

Both work pretty seamlessly, though the functionality is limited to those companies that have enabled it. Samsung says it’s an easy addition, but the speed with which developers adopt it will depend largely on the success of these devices. Given that Samsung’s worked hand in hand with Google/Android on this, however, gives the company a big leg up on the competition.

All told, I’m pretty impressed with what amounts to a first-gen product. This thing was a long time in the making, and Samsung clearly wanted to get things right. The company admittedly had some of the wind taken out of its sails when Huawei announced its own folding device a few days later.

That product highlighted some of the Fold’s shortcomings, including the small front-facing screen and somewhat bulky design language. The Fold’s not perfect, but it’s a pretty solid first take at a new smartphone paradigm. And with a starting price of $1,980, it’s got a price to match. You’re essentially paying double for twice the screen.

Samsung, Huawei and the rest of the companies exploring the space know that they’re only going to sell so many of these things in the first go-round at this price point. Everyone’s still exploring aspects like folding mechanisms, essentially making early adopters guinea pigs this time out.

But while the fold doesn’t feel like a phone that’s achieved its final form, it’s a surprisingly well-realized first-generation phone.

15 Apr 2019

Smart speakers installed base to top 200 million by year end

Smart speakers’ global installed base is on track to top 200 million by the end of this year, according to a report out today from analysts at Canalys. Specifically, the firm forecasts the installed base will grow by 82.4 percent from 114 million units in 2018 to 207.9 million in 2019. The U.S. will continue to lead in terms of smart speaker adoption, but a good portion of this year’s growth will also come from East Asian markets –  particularly China, the report says.

The firm estimates 166 percent year-over-year growth in the installed base for smart speakers in mainland China this year – going from 22.5 million units in 2018 to 59.9 million in 2019 – to reach 13 percent smart speaker penetration in the region. That’s compared with 46 percent growth in the U.S.

The market for China will also look much different from the U.S., where Amazon and Google today dominate. These companies don’t have a smart speaker presence in China. That means others – like Alibaba’s Tmall Genie, Xiaomi’s Xiao Ai, Baidu’s DuerOS and more – will gain traction instead. Canalys predicts Tmall will lead, with 39 percent of the 2019 smart speaker market share in mainland China, followed by 25 percent for Xiao Ai, 24 percent for DuerOS and 12 percent for all others. (Note that Canalys didn’t break out estimates for Apple HomePod in China, where it launched in January. But given its higher price point, it seems the firm isn’t predicting huge adoption at this time.)

“Local vendors are bullish about China’s smart speaker market, and their aim for this year is to keep growing their respective installed bases in the country by shipping more devices into households,” said Canalys senior analyst Jason Low. “Hardware differentiation is becoming increasingly difficult, and consumers have higher expectations of smart speakers and smart assistants. Vendors will need to focus on marketing the next-generation ‘wow factor’ for their respective smart assistants and voice services to change consumers’ perception and drive greater adoption,” he added.

It’s worth noting, too, that the market for the voice assistants powering these smart speakers is even broader. For instance, Baidu announced in January 2019 that its DuerOS assistant has topped 200 million devices. This device base includes other things like home appliances and set-top boxes, in addition to smart speakers, however. And the worldwide market for voice assistants is on track to reach 8 billion by 2023, up from 2.5 billion in 2018, a report from Juniper Research said.

Canalys’ forecast follows news that smart speakers have hit critical mass in the U.S., where now 41 percent of U.S. consumers now own a voice-activated speaker, up from 21.5 percent in 2017.

While most analysts firms are reporting rapid global growth for smart speakers, their individual forecasts may vary some.

For example, Deloitte estimated the installed base for smart speakers will be even bigger – reaching more than 250 million units by the end of 2019, following 63 percent year-over-year growth. That would make smart speakers the “fastest-growing connected device category worldwide in 2019,” the firm had said, and would see the total market worth $7 billion.

Canalys’ forecast agrees with this prediction, if not the exact numbers. Today, it also adds that smart speakers will top the install base of wearable bands (like smartwatches and fitness trackers) in 2019, and will overtake tablets by 2021.

15 Apr 2019

Verified Expert Brand Designer: Mark Forscher

After leading design teams at Code and Theory, ABC News, and Newsweek Digital, Mark Forscher retired his managerial hat and decided to start his own creative studio called Under After in 2008. His natural interest in technology coupled with his background in branding and product design, makes him an obvious collaborator for founders looking to launch their company. We talked to him about his creative process, some of his favorite branding projects, and more.  


Mark’s branding philosophy:

“I understand that it can be a challenge for founders to make definitive decisions around picking a logo or picking a color palette. It feels very concrete when a lot of product is about finding the right product/market fit, iterating, testing, and using data to inform the process. So wherever possible, I try to bring that kind of iterative philosophy into the branding approach as well, which tends to work pretty well with founders, especially technology founders.”

On remaining independent:

“The reason why I haven’t scaled up my design business, why I’m not trying to be like a ten-person shop, or even a five-person shop, is because I want to be a collaborator, not a vendor that somebody outsources work to. I think it sets the expectation right up front that we’re both in this together to figure this out. I’m just a person deeply committed to working with the founder.”

On common startup branding mistakes:

“I think one of the biggest things that impacts the success of a branding project is not investing time into it. Sometimes founders think that if they just throw money at a problem, it’ll get solved, and I think they underestimate the amount of time that’s required. It’s not that it takes an extensive amount of time, but their thoughtful feedback at every point in the process is important, and small decisions build up to big ones. It’s hard to do that if the founder’s super busy, and oftentimes founders are busy. Prioritizing that work is important.”

“Incredible brand identity and brand systems design. Thoughtful product strategy and UX design. Truly magical at taking hard concepts and making them easy to understand. A CEO & Founder in NYC

Below, you’ll find the rest of the founder reviews, the full interview, and more details like pricing and fee structures. This profile is part of our ongoing series covering startup brand designers and agencies with whom founders love to work, based on this survey and our own research. The survey is open indefinitely, so please fill it out if you haven’t already.


The Interview

Yvonne Leow: Can you tell me a little bit about how you got started in design and what particularly drew you to branding?

Mark Forscher: I’ve been working in design professionally since 2004. I was at R/GA while I was in grad school, worked on the Nike basketball account, and after finishing an MFA degree at Parsons, I joined Code and Theory. I was one of Code and Theory’s early hires, I think I was the 6th or 7th employee, and was quickly promoted to be their first official creative director. So I learned a lot about how to run large-scale digital projects, from definition, UX, design, to project management I really liked working directly with clients to understand their needs, and to create impactful work.

After Code and Theory, I wanted to work in-house at a media company because I wanted to build digital projects and create longer-term value instead of a single engagement on a contract basis. I was really interested in doing work in the service of good editorial content.

15 Apr 2019

iOS 13 could feature dark mode and interface updates

According to a report from 9to5mac’s Guilherme Rambo, the next major version of iOS for the iPhone and iPad will feature many new features, such as universal dark mode, new gestures, visual changes for the volume popup and more.

Dark mode should work more or less like dark mode on macOS Mojave. You’ll be able to turn on a system-wide option in Settings. Apps that support it will automatically switch to dark mode the next time you launch them. Let’s hope that third-party developers will support that feature. Otherwise, it would be a bit useless if Facebook, Instagram, Gmail or Amazon still feature blindingly white backgrounds.

The other big change is that you’ll be able to open multiple windows of the same app on the iPad. You can already open two Safari tabs side by side, but it sounds like Apple plans to expand that feature beyond Safari with a card metaphor. Each window will be represented as a card that you can move, stack or dismiss.

Other iOS 13 features sound like minor improvements that should make iOS less frustrating. And it starts with new gestures. Instead of shaking your device to undo an action, users will be able to swipe with three fingers on the virtual keyboard to undo and redo a text insertion.

Similarly, Apple could be working on a new way to select multiple items in a table view or grid view. You could just drag a rectangle around multiple items to select them. Once again, Apple is reusing a classic macOS feature on iOS.

Some apps will receive updates, such as Mail and Reminders. The default email client will sort your emails in multiple categories (marketing, travel, etc.) just like in Gmail.

Finally, that annoying volume popup could be on the way out. Apple could replace that popup with a more subtle volume indicator.

Overall, the most exciting change is probably the ability to launch multiple windows of the same app. It’ll be interesting to see how Apple plans to implement that feature and what you’ll be able to do with that. Moving away from the traditional “one app = one document” metaphor could open up a lot of different workflows.

15 Apr 2019

Match Group restructures exec team with focus on Asia

Tinder parent company Match Group, also the owner of a suite of dating apps including OKCupid, Meetic, Match, PlentyofFish and others, announced this morning plans to restructure its leadership team in order to better focus on the market opportunities for dating apps in Asia. Specifically, the company has appointed three new General Managers in Asia to focus on areas like Japan, Taiwan, India, South Korea, and other parts of Southeast Asia.

The company explains its decision has to do with the potential it sees for growth outside the U.S. and Europe, where there are more than 400 million singles, two-thirds who have not yet tried a dating app.

One of the new GMs is Tokyo-based Junya Ishibashi, who has been CEO of Match Group’s Eureka business in Japan. He now become the General Manager of Match Group for Japan and Taiwan.

Taru Kapoor, who’s based in Delhi, will be GM of Match Group India. And Seoul-based LylaSeo, who previously served as Regional Director of East Asia for Tinder, is now GM of Match Group for South Korea and Southeast Asia.

Meanwhile, Alexandre Lubot, who has served as both CEO of Meetic and CEO of Match Group EMEA & APAC since 2016 will remain CEO of Match Group EMEA & APAC. He will oversee the brands across Europe, the Middle East and Asia, with the three General Managers reporting directly to him.

Meetic, which is Match Group’s European dating app, will now be overseen by Matthieu Jacquier, who has worked as a CPO with the company for a year. Alongside Jacquier, Elisabeth Peyraube will now take on a new role of COO & CFO of Match Group EMEA & APAC.

While Match Group plans for growth across Asia, India has been of particular importance, particularly as rival dating app Bumble entered the country last year, where it tapped actress, celebrity and Bumble investor Priyanka Chopra, to advise its expansion.

Tinder has also tried to cater to its Indian users with the more recent launches of expanded gender options in its app, and the Bumble-like “My Move” feature, which allows the women to chat first.

However, Tinder’s strategy in India needs to differ from here in the U.S. where it’s now promoting the young, carefree, and often less relationship-focused “single lifestyle.” In India (as well as in China and other markets), dating apps today still face challenges due to cultural norms. That’s led to an unbalanced ratio between men and women using the apps in India, a report from The Wall St. Journal found. And when women join, they’re overwhelmed by the attention they receive, as a result.

These issues will require Tinder to adapt everything from its marketing and advertising messages to even its product features in order better cater to its Indian users. And it requires someone who fully understands the market to lead.

“Taru was originally hired to grow Tinder in India, but a little more than a year ago we increased her responsibilities to oversee the growth of other Match Group products in the country,” said Mandy Ginsberg, Match Group CEO, in a statement about the leadership restructuring. “During that time Tinder has become a big brand in India, but Taru also has meaningfully grown OkCupid’s user base in India over the last six months due to her keen understanding of the market and culture. Her success is a template for how we can approach these emerging Asian markets, particularly when we have stellar talent on the ground that understands the cultural, regulatory and market dynamics at play,” she added.

In Korea, Match Group credits Seo with executing Tinder’s first-ever TV ad campaign, which helped increase downloads in Korea 2.5x from 2016 to 2018.

The company also says Ishibashi more than doubled Pairs’ revenue in Japan since its acquisition in 2015.

Both executives will oversee other Match Group brands in their respective markets, as part of their new responsibilities.

Match Group has been growing its footprint in the Asian market for some time. On its Q4 2018 earnings call in February, the company noted it already had teams in around half a dozen key countries throughout Asia focused on its marketing programs and developing the cultural insight it needed to succeed in those regions.

Ginsberg now says she would like to see a quarter of Match Group’s revenue coming from Asia within 5 years.

 

15 Apr 2019

Disc-free Xbox One S could land on May 7th

Microsoft is about to launch an even cheaper Xbox One S. In order to cut costs, the company is removing the BluRay disc drive altogether. According to leaked marketing images spotted by WinFuture and Thurrott, the console could launch on May 7th for €229 in Germany.

Those images look so real that they’re probably real. Given that the launch is just a few weeks away and that those marketing images line up perfectly with previous rumors, chances are this is the real deal.

As you can see on WinFuture’s images, it looks exactly like an Xbox One S without the disc slot. The console is called Xbox One S All Digital and comes with a 1TB hard drive — most standard Xbox One S consoles currently also feature a 1TB hard drive.

Microsoft states clearly that this console is only for digital games. If you already have physical Xbox One games, you won’t be able to insert them in the console.

Customers get three days fore free with the console through download codes — Minecraft, Sea of Thieves and Forza Horizon 3. You can then buy more games in the online store or subscribe to the Xbox Game Pass to access a library of games.

This model should cost €229 in Germany, but you might be able to buy it for less. For instance, an Xbox One S officially costs €299 on Microsoft’s website, but you can easily buy it for €200 on Amazon and through other retailers.

Microsoft usually uses the same price points in USD. So I wouldn’t be surprised if the Xbox One S All Digital officially costs $229 in the U.S.

It’s clear that Microsoft is testing the market with this console. The company has been pivoting to a subscription model. The Xbox brand is evolving from a gaming console brand to a service brand. This should be a key differentiating factor of Microsoft’s strategy with the next generation of consoles.

15 Apr 2019

Parrot’s latest drone targets professionals with a thermal camera

The last several years have seen an interesting pivot for Parrot, from bluetooth headset/speakers to drones. The company’s ANAFI line is probably one of the best positioned products to go head to head with DJI’s successful Mavic line, but the company’s looking to take things a bit further by moving beyond hobbyists/consumers.

The system’s primary differential from other products in the line is the inclusion of the titular thermal camera designed by Flir. The ANAFI Thermal is capable of capturing live images that layer thermal and high-res images.

With this technology, the French company is hoping to open up the drone offering to a wide range of fields that can use the technology for things like surveillance and inspection. The list of potential case uses include firefighters, solar panel inspections, and building industry/construction works, who can monitor things like insulation and thermal leakages in buildings.

The system also includes a 4K HDR camera with 21 megapixel sensor and 3x digital zoom, mounted on a gimbal that’s capable of titling 90 degrees up and down. That last bit should also prove helpful for things like building inspections. The batteries, meanwhile, are slightly better than recent models, at 26 minutes per. The drone ships with three of them.

The ANAFI thermal arrives next month, priced at $1,900.

15 Apr 2019

Facebook prototypes a swipeable hybrid carousel of feed posts & Stories

Feed and Stories unite! Facebook is so eager to preempt the shift to Stories that it might even let us use the same interface of horizontally swipeable cards to sift through News Feed posts. If users won’t scroll down any more, Facebook’s ad business could take a huge hit. But by allowing traditional feed posts and ads to appear amidst Stories in the same carousel you’re more prone to swipe through, it could squeeze more views and dollars out of that content. This would help Facebook gracefully transition to the post-News Feed era while it teaches advertisers how to use the full-screen Stories ad format.

In this image, you can see a user in mid-swipe through the hybrid carousel between a News Feed story about a friend updating their profile photo to an animated GIF-style video on the left and a Stories video on the right.

We’re awaiting comment from Facebook about this. There’s a chance it was just caused by a bug like the briefly side-scrollable Instagram feed that popped up in December, or that it will never be publicly tested let alone launch. But given the significance of Facebook potentially reimagining navigation of its main revenue stream, we considered it worth covering immediately. After all, Facebook predicts that Stories sharing will surpass feed sharing across all social apps sometime this year,. it alrady has 300 million daily users across Stories on Facebook and Messenger, plus another 500 million on Instagram Stories and 450 million on WhatsApp Status.

This swipeable hybrid carousel was first spotted by reverse engineering specialist and frequent TechCrunch tipster Jane Manchun Wong. She discovered this unreleased feature inside of the Android version of Facebook and screenrecorded the new navigation method. In this prototype, when a News Feed post’s header or surrounding space is tapped, users see a full-screen version of the post. From there they can swipe left to reveal the next content in the hybrid carousel, which can include both traditional News Feed posts, News Feed ads, and purposefully vertical Stories and Stories ads.

If Facebook moved forward with offering this as an optional way to browse its social network, it would hedge the business against the biggest behavior change it’s seen since the move from desktop to mobile. Vertically-scrolling News Feeds are useful for browsing text-heavy content, but the navigation requires more work. Users have to stop and start scrolling precisely to get a whole post in view, and it takes longer to move between pieces of content.

In contrast, swipeable Stories carousels offer a more convenient lean-back navigation style where posts always appear fully visible. All it takes to advance to the next full-screen piece of content is a single tap, which is easier on your joints. This allows rapid-fire fast-forwarding through friends’ lives, which works well with more visual, instantly digestible content. While cramming text-filled News Feed posts may not be ideal, at least they might get more attention. If Facebook combined all this with unskippable Stories ads like Snapchat is increasingly using, the medium shift could lure more TV dollars to the web.

The hybrid posts and Stories carousel can contain both traditional image plus caption News Feed posts and News feed ads as well as Stories

Facebook has repeatedly warned that it’s out of space for more ads in the News Feed, and that users are moving their viewing time to Stories where advertisers are still getting acclimated. When Facebook made it clear on its Q2 2018 earnings call that this could significantly reduce revenue growth, its share price dropped 20 percent vaporizing $120 billion in value. Wall Street is rightfully concerned that the Stories medium shift could upend Facebook’s massive business.

Stories is a bustling up-and-coming neighborhood. News Feed is a steadily declining industrial city that’s where Facebook’s money is earned but that’s on its way to becoming a ghost town. A hybrid Stories/posts carousel would build a super highway between them, connecting where Facebook users want to spend time with where the municipality generates the taxes necessary to keep the lights on.

15 Apr 2019

Vimeo has acquired short-form video creation platform Magisto

Vimeo, the IAC -owned platform for hosting, sharing and monetizing streamed video, has made an acquisition to expand into providing more creation and editing tools. The company has acquired Magisto, a startup founded in Israel that currently has over 100 million users that focuses on providing tools to create and edit short-form videos, providing not just editing but sourcing of music, stock photos and other elements as part of the mix.

Vimeo — which itself has 90 million members in over 150 countries — says that the two will work together “to develop entirely new short-form video creation capabilities for the Vimeo platform, with the goal of helping any individual or business tell their stories with professionalism and ease.”

Terms of the deal were not disclosed — but we are trying to find out. Magisto had raised around $23 million since 2010 from a mix of financial and strategic investors. The list includes Magma Venture Parnters, Horizons Ventures, Kreos Capital, Qualcomm, SanDisk and the Mail.Ru Group. Notably, it hadn’t raised any funding since 2014, according to Pitchbook data. The deal is set to close in Q2 of this year.

Magisto has around 75 employees in California and Israel, all of which are coming over with the deal.

The deal underscore’s Vimeo’s strategy to position itself as a one-stop shop for companies or individuals that publish videos online — either as part of publicity campaigns or as the basis of a bigger project. The idea is that this will help Vimeo get bigger margins per customer by providing more services.

In an age some of the most popular services online are streaming media sites like YouTube, broadband connectivity is ubiquitous, and people are always on the go, video has become one of the primary ways that people express themselves, and get the word out.

“Social media has sparked an insatiable demand for video – audiences today expect high-quality video content from every business, regardless of size or budget. But we’ve found that most small businesses don’t have the tools, resources or expertise to meet this increased demand,” said Anjali Sud, CEO of Vimeo, in a statement. “Magisto’s proprietary technology enables cutting edge mobile apps and AI-powered editing tools which, combined with Vimeo’s scale and unmatched creator community, will empower more people to tell compelling stories through video.”

In addition to developing new tools, Vimeo said that Magisto will be getting a Vimeo integration in order to publish and monetize videos that they create on Magisto currently. 

The two already have a lot of synergy as they both tap the same customer base: smaller customers that are turning to video and online tools to create it to get the word out about themselves, without the big budgets and other pricey resources that larger businesses might have.

“Magisto guides entrepreneurs and small business owners through the video storytelling process, helping them use video effectively to grow their business and engage with audiences,” said Oren Boiman, founder and CEO of Magisto. “We level the playing field so that any business can move fast and compete in today’s video-first world. We’re thrilled to join Vimeo’s industry-leading platform, and to power their vision to make professional quality video creation accessible to all.”