Magisto provided an online video editing tool (both as a web application and a mobile app) for automated video editing and production. In 2019, the company was acquired by Vimeo for an estimated US$200 million.
The Magisto app contained a library of music. The music, largely by independent artists, was sorted by mood and is licensed for in-app use.
Magisto had a freemium business model where users can create basic video clips for free. In addition, advanced business, professional and personal service tiers are available via various subscription plans, unlocking more features; such as longer videos, HD, premium themes, customization, and control features.
History
Magisto was founded in 2009 as SightEra (LTD) by Oren Boiman (CEO) and Alex Rav-Acha (CTO). Boiman, frustrated with the amount of time it took editing together videos of his daughter, wanted an easier to use application to capture and share videos. Boiman, a computer scientist that graduated from Tel Aviv University, followed with graduate work in computer vision at the Weizmann Institute of Science. Boiman developed several patent-pending image analysis technologies
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Source: Wikipedia
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