Andre Yoskowitz
1 Aug 2008 17:52
Google has acquired the web video editing company Omnisio and will use the acquisition to add new editing functions to YouTube.
Omnisio creates software that allows users to edit video clips as well as add captions and slideshows to footage. The acquired company is still new and just went public in March but each of the founders came from Stanford University and the company had full backing from venture capitalists.
None of the financial details were revealed but the sale is estimated at about $15 million USD.
YouTube first added edited functions to videos in 2007 but they proved to be limited and unpopular. "We believe we've only scratched the surface in terms of what's possible with online video, so stay tuned for other tools and features that will let you do even more with your videos," read the YouTube press statement.