MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–August 16, 2022–
WeVideo Inc.(“WeVideo” or the “Company”), a leading cloud-based collaborative media creation platform with more than 38 million users, today announced the acquisition of PlayPosit, a software company that offers an interactive online environment that seamlessly integrates multi-layered learning experiences directly into video content. WeVideo will now offer a complete learning solution that enables users to not only create meaningful video content, but also enrich that content through learner engagement, real-time metrics, and actionable analytics.
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Founded in 2011, WeVideo led the democratization of video creation among K-12 school districts, teachers, students, and business professionals, and today is at the forefront of the next evolution of video by enabling creators to derive greater value from their content.
Krishna MenonCEO of WeVideo, said: “WeVideo was an early player in the video creation market, and now the company is leading the charge to increase the value of video content. Our goal is to help creators drive user engagement and increase ROI from training and information retention. With the addition of PlayPosit’s assessment capabilities, WeVideo will now offer a robust communication feedback loop that enhances the overall learning experience.
With over five million learners and counting, used in corporate and higher education environments, PlayPosit offers a variety of content options that expand the traditional and online classroom environment. PlayPosit’s software integrates seamlessly with existing learning management systems and allows anyone to add interactive layers such as hotspots, overlays with embedded media, multi-version questions, annotations , badges and peer review. This allows instructors and other creators to engage with audiences, gauge knowledge input, and reuse their video content in different ways. Acquisition of PlayPosit exponentially expands WeVideo’s potential customer base and creates an end-to-end video creation and communication platform with interactive engagement and measurement capabilities that result in higher value learning , better knowledge uptake, and evidence-based training and assessment.
Benjamin Levy, Founder and CEO of PlayPosit, commented, “Our goal is to turn all learning into active learning through the development of a cutting-edge solution that showcases the power of two-way communication. We are excited to be part of WeVideo, where we can bring our solution to a wider audience.
Thompson Street Capital Partners made a strategic growth investment in WeVideo in December 2020 to help the company reach new markets, create new value for existing customers and accelerate the company’s growth.
IKONA Partners, a technology-focused boutique investment bank, acted as exclusive financial advisor to PlayPosit in this transaction.
WeVideo is a cloud-based, powerful and easy-to-use collaborative video creation platform. With over 38 million accounts created to date, WeVideo is the first choice for businesses, consumers, educators, and students, as well as the video backbone of many third-party media solutions. WeVideo is accessible from any computer or device: at school, at home, at work or on the go. Users can easily capture, edit, view and share videos for personal, social media, business or learning purposes with secure storage of their content in the cloud. Download the mobile app from iTunes or Google Play and visit the website for more information: https://www.wevideo.com/.
Founded in 2013, PlayPosit is a software company that offers an interactive online learning environment that seamlessly integrates layered learning experiences – such as hotspots, overlays with embedded media, multi-person questions versions, annotations, badges and peer review – directly in the video content. PlayPosit offers a wide range of LMS integrations to its customers, which include businesses as well as K-12 and higher education institutions. For more information, visit www.playposit.com.
About Thompson Street Capital Partners
Thompson Street Capital Partners ( www.tscp.com ) is a St. Louis-based private equity firm focused on investing in middle-market, founder-led companies in the life sciences and healthcare, software and technology industries, and business and consumer services and products. TSCP partners with management teams to increase value by accelerating growth, both organically and through acquisitions.
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CONTACT: Caroline Luz
KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: SOFTWARE MOBILE/WIRELESS INTERNET DATA MANAGEMENT CONSUMER ELECTRONICS E-COMMERCE TECHNOLOGY OTHER EDUCATION ELEMENTARY/SECONDARY EDUCATION AUDIO/VIDEO OTHER TECHNOLOGIES
SOURCE: WeVideo Inc.
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PUBLISHED: 08/16/2022 09:00 / DISK: 08/16/2022 09:02