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Vimeo Buys Video Creation Company Magisto for $200 Million

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Streaming video platform provider Vimeo has acquired Magisto, a Mountain View-based company focused on short-form video creation, for a reported $200 million (although the company would not confirm the amount). In a blog published this morning, Magisto CEO and co-founder Oren Boiman announced the deal with obvious enthusiasm:

“Today we are THRILLED to announce that we’ve agreed to be acquired by Vimeo…. By combining forces with Vimeo, we will be able to offer you a more valuable all-in-one video marketing solution that goes way beyond creation to include collaboration, hosting and management, distribution, analytics, monetization, live streaming and more.”

Following the acquisition, Vimeo and Magisto will work together to develop entirely new short-form video creation capabilities for the Vimeo platform, with the goal of helping any individual or business tell their stories with professionalism and ease. Magisto users will also be able to seamlessly access Vimeo’s full suite of workflow tools, so they can deploy their videos across platforms with a click of a button and measure performance all in one place.

Oren Boiman, founder and CEO of Magisto, adds, “Magisto guides entrepreneurs and small business owners through the video storytelling process, helping them use video effectively to grow their business and engage with audiences. We level the playing field so that any business can move fast and compete in today’s video-first world. We’re thrilled to join Vimeo’s industry-leading platform, and to power their vision to make professional quality video creation accessible to all.”

Magisto has over 75 employees with offices in California and Israel. The transaction is expected to close by the end of the second quarter. Ten-year-old Magisto has raised nearly $23 million in venture capital over time from investors such as SanDisk Ventures and Qualcomm Ventures. It has an estimated 100 million users.

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SpaceX’s Starlink Internet Service to Leave Beta in October 2021

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SpaceX’s CEO Elon Musk tweeted on Friday that the company’s Starlink satellite internet network would come out of its open beta phase next month. That’s two months later than the August date Musk gave at Mobile World Congress, when he also said he expected the service to have “possibly over 500,000 users within 12 months.”

The Starlink system calls for a constellation of nearly 12,000 satellites in low-Earth orbits that will beam continuous broadband internet service. A terminal costs $499 and there’s a $99 monthly fee for service. It opened its public beta test in October 2020, and Musk said in August that SpaceX had shipped 100,000 Starlink terminals, which includes a satellite dish and a Wi-Fi router, to users in 14 countries.

As the beta ends and more countries are able to get access to Starlink, that 100,000 number is likely to grow, although it’s hard to tell when it might reach the half-million mark that Musk predicted. Starlink’s internet service is planned to be sold directly to consumers in rural areas around the world, among other customers, and it’s touting 100Mbps download and 20Mbps upload speeds.

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Xiaomi Announces the 11T, 11T Pro, and a Refreshed 11 Lite 5G NE

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Xiaomi has announced the launch of three new smartphones – the 11T, 11T Pro, and a refreshed 11 Lite 5G NE. The new smartphones come with new photography and videography features such as the “Cinemagic” mode on the Xiaomi 11T and Xiaomi 11T Pro. The Xiaomi 11T Pro is the first smartphone to launch globally with the company’s 120W Xiaomi HyperCharge technology. The company claims that the technology will enable a 100% charge in just 17 minutes.

The smartphone also features the flagship Qualcomm Snapdragon 888 mobile platform with AI features, and a triple camera set up with a pro-grade 108MP wide-angle, 2x tele-macro, and a 120° ultra-wide-angle lens. You also get capabilities with one-click AI Cinema modes, 8K recording, HDR10+, and DisplayMate A+ rated 6.67-inches FHD+ 120Hz AMOLED that is equipped with TrueColor and Dolby Vision. The smartphone also comes with Reading Mode 3.0 and dual speakers powered by Harman Kardon.

The Xiaomi 11T comes with Cinemagic mode and features a high-resolution triple camera, along with a suite of AI-powered tools to boost creativity and productivity. The Xiaomi 11T also comes with a triple camera setup, featuring a 108MP high-resolution wide-angle, 120° ultra-wide angle, and 2x telemacro camera. The smartphone combines this with its one-click AI cinema modes to distill the tricks of professional cinematographers such as Time Freeze, Night Time-Lapse, Magic Zoom, and other types of complicated shots into just a single click while the faintest of sounds is brought to life in cinematic fashion with Audio Zoom.

Its 6.67-inches 120Hz flat AMOLED display equally delivers HDR10+ with stunning sharpness and crystal clarity, over 1 billion colours, a smorgasbord of eye care features, and up to 480Hz touch sampling rate. The phone is powered by MediaTek Dimensity 1200-Ultra chipset, a massive 5000mAh battery, and 67W wired turbo-charging that gets to 100% in only 36 minutes.

The Xiaomi 11 Lite 5G NE features an ultra-thin and lightweight body, measuring a mere 6.81mm and weighing 158g. The design is further accentuated by a razor-thin 1.88mm on both top and side bezels, as well as four choices of stylish colours. While Truffle Black, Bubblegum Blue, and Peach Pink are making a return, Xiaomi is adding a brand-new colour called Snowflake White, which is a matte and frosted white.

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HONOR Launches HONOR Dubai HUB in the United Arab Emirates

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HONOR has announced the opening of HONOR Dubai Hub that is located at the Dubai Airport Free Zone. This will be the company’s first distribution center in the Middle East. The facility will be dedicated for the regional market to develop intelligent terminal product sales business, serves as a distribution hub, and plays a vital role for deliveries across the East and Central Africa region.

The new warehouse will enable HONOR to swiftly deliver its complete portfolio of smart products to users from a closer and more convenient location. Moreover, it will help to strengthen the company’s distribution network and the availability of HONOR’s cutting-edge products across the Middle East and Africa.

The new HONOR Dubai Hub marks another significant and concrete milestone in HONOR’s regional growth and expansion strategy. It’s expected that the newly established distribution center will cover around 60% of finished products deliveries across the Middle East and Africa region. The HONOR Dubai Hub comes as part of HONOR’s unwavering commitment to foster new and better ways to build an efficient, agile, and low-cost supply chain with its partners.

In response to the remarkable growth and as the volume and complexity of the business increases. Dubai Hub aims to become a multi-functional integrated warehouse to support multi-scene delivery of finished products, spare parts, e-commerce, retail and value-added services, providing customers with the ultimate delivery experience.

The UAE is a thriving center for technology, launching Honor Dubai Hub marks the gradual recovery of Honor’s supply capacity in MEA. As an international technology business, supported by a strong investor appetite, the launch of Honor Dubai HUB is another proof of Honor’s long-term commitment to provide personalized, world-class products to the Middle East customer base.

Despite the turbulence in the global economy, the Middle East telecoms market continued its rapid growth. Similarly, the pool of tech talent in the Middle East is growing very rapidly means HONOR can really accelerate its growth through expansion in the MEA region and reach even more customers. The launch is designed around the needs of regional users and helps HONOR easily approach new categories of users who are actively seeking out innovative and competitive smart terminal products to successfully scale their businesses.

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