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Magisto Reports Availability of Free Video Editing Service
[September 23, 2011]

Magisto Reports Availability of Free Video Editing Service

Sep 23, 2011 (Close-Up Media via COMTEX) -- Magisto announced the public availability of the company's free, web-based video editing service that automatically turns any unedited video footage into short, fun movies to share with friends and family.

The Company said people no longer need to learn new software or spend days sifting through videos trying to do their own video editing. With Magisto, users upload their videos, pick a title, select their music, and with the click of a button Magisto goes to work. The company's proprietary technology automatically finds the best footage in the videos and edits them into a short, fun movie that is ready to share on Facebook, Twitter, YouTube, or via email.

"Kids. Special events. Family vacations. Everybody is shooting hours and hours of video, but nobody knows what to do with it," said Magisto Co-Founder and CEO Oren Boiman. "The average person doesn't edit videos. It's hard to do, and most people don't have the desire or time to learn video editing programs. So they either post long boring videos nobody wants to watch, or they save them on their hard drive unwatched, unedited, unshared. We made Magisto to give people a way to take their videos and turn them into movies that are fun to watch and easy to share." Additionally, Magisto reported that it has secured a $5.5M Series B round of funding led by Horizons Ventures, a Hong Kong-based investment manager looking after the private investments of Li Ka-shing and the Li Ka-shing Foundation in the TMT sector globally. Magma Venture Partners also participated in this round, having previously led the Series A Round in 2010.

"Do-it-yourself video editing is dead. Magisto is an entirely different video editing experience that delivers great quality video editing that has never been seen before," said Frank Meehan, Magisto Board Member for Horizons Ventures. "Magisto is the first company to actually make this automated editing work and bring it to market in an easy to use web service. The potential for this technology is significant, especially given the tremendous growth of video capable devices in recent years." More Information: ((Comments on this story may be sent to [email protected]))

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