Online video editing solutions developer Magisto Ltd. has teamed up with YouTube, which has installed Magisto's online editing service, enabling users to create Magisto clips directly from YouTube Create. The service, available at YouTube Create went on air yesterday.
YouTube users can upload unedited videos and have them automatically turned into short movies, which can be shared.
Magisto CEO Oren Boiman founded the company in 2009.
In announcing the YouTube launch, Magisto's blog states, "YouTube strives to make video creation as simple and accessible as possible for their users and we are excited to be a part of that. Now, whether you know how to edit video or not, you can upload your footage to Magisto on YouTube and our system will find all the best parts, edit them together with the song of your choice, and post the video to your YouTube channel, where you can share it with your friends, family and the world!
"With 48 hours of video being uploaded to YouTube every minute, it’s hard to stand out from the crowd. Magisto is here to help you stand out, turning your videos into more exciting and share-worthy clips!"
YouTube stated, "We’re adding two additional video creation platforms for you to make your videos even better: Vlix and Magisto. Vlix lets you spice up your videos by adding cool effects and text to the video intro and closing. Magisto takes your unedited video and automatically edits it into short, fun clips."
On Monday, Magisto raised $5.5 million in its second financing round from Horizons Ventures, the private investment arm of Li Ka-shing, and current investor Magma Venture Partners
Published by Globes [online], Israel business news - www.globes-online.com - on September 22, 2011
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