NowThis News Buys Video-Distribution Platform Cliptamatic
NowThis News, a socially ubiquitous news video provider, has acquired a company that will make it easier to distribute content across different social platforms.
Cliptamatic launched a mobile video app a few years ago to make it easier for users to follow and share short-form clips posted by their favorite video brands. With the acquisition, NowThis News, which has a presence across pretty much every social video platform, wants to expedite its social and mobile content distribution — especially when it revolves around videos and photos tied to breaking news stories.
“Consumers appetite for video content is exploding. This increased demand not only requires a different approach to how content is being produced for mobile, but also a technology that distributes, analyzes, and optimizes that content based on the social feed it is being consumed on,” said Sean Mills, president of NowThis in a statement. Cliptamatic’s technology, he added, will enable NowThis to increase the speed and the volume of real-time video content it produces every day.
According to TechCrunch, the entire Cliptamatic team, including CEO Athan Stephanopoulos, will be joining NowThis. The companies haven’t shared a dollar-figure for the deal, though the previous report indicates that it was for equity.
Earlier this year, NBCUniversal bought a 10% stake in NowThis News, which is also backed by Huffington Post co-founder Kenneth Lerer and his Lerer Ventures investment firm.Tags: Acquisition, Cliptamatic, digital distribution, Lerer Ventures, mobile video, NBCUniversal, News Video, NowThis News, social video