WeVideo Acquires PlayPosit to Pioneer Next Evolution of Video Creation with Interactive Content and Measurable Analytics
Mountain View, CA - August 16, 2022 – WeVideo Inc., (“WeVideo” or the “Company”), a leading cloud-based and collaborative multimedia creation platform with over 38 million users, today announced the acquisition of PlayPosit, a software company that offers an online interactive environment that seamlessly integrates layered learning experiences directly into video content. WeVideo will now offer a comprehensive learning solution that allows users to not only create meaningful video content, but also enrich that content through learner engagement, real-time measurement, and actionable analytics.
Founded in 2011, WeVideo led the democratization of video creation among K-12 school districts, teachers, students, and business professionals, and today is pioneering the next evolution in video by enabling creators to derive greater value from their content.
Krishna Menon, Chief Executive Officer at WeVideo, said, “WeVideo was an early mover in the video creation market, and now the Company is leading the charge to increase the value of video content. Our goal is to help creators boost user engagement and increase ROI on training and information retention. With the addition of PlayPosit’s assessment capabilities, WeVideo will now offer a robust communication feedback loop that enhances the entire learning experience.”
With over five million learners and counting, used in both corporate and higher education settings, PlayPosit offers a variety of options for content that expands the traditional and online classroom environment. PlayPosit’s software integrates seamlessly with existing learning management systems and allows anyone to add interactive layers such as hot spots, overlays with embedded media, multi-versioned questions, annotation, badging, and peer review. This empowers instructors and other creators to engage with audiences, assess knowledge in-take and repurpose their video content in a variety of ways. The acquisition of PlayPosit expands WeVideo’s potential customer base exponentially and creates an end-to-end video creation and communications platform with interactive engagement and measurement capabilities that result in higher-value learning, greater knowledge absorption, and evidence-based training and assessment.
Benjamin Levy, Founder & CEO of PlayPosit, commented, “Our focus is on transforming all learning into active learning through the development of a best-in-class solution that showcases the power of multi-directional communication. We are excited to become part of WeVideo, where we’ll be able to deliver our solution to a broader audience.”
Thompson Street Capital Partners made a strategic growth investment in WeVideo in December 2020 to help the Company reach new markets, create new value for existing customers, and accelerate the Company’s growth.
IKONA Partners, a technology-focused boutique investment bank, acted as exclusive financial advisor to PlayPosit in this transaction.
WeVideo is a powerful, easy to use, cloud-based collaborative video creation platform. With over 38 million accounts created to date, WeVideo is the first choice of businesses, consumers, educators and students, as well as being the video backbone for many third-party media solutions. WeVideo can be accessed from any computer or device: at school, home, work or on the go. Users can easily capture, edit, view and share videos for personal, social media, business or learning purposes with secure storage of their content in the cloud. Download the mobile app on iTunes or Google Play.
Founded in 2013, PlayPosit is a software company that offers an online interactive learning environment that seamlessly integrates layered learning experiences – such as hot spots, overlays with embedded media, multi-versioned questions, annotation, badging, and peer review – directly into video content. PlayPosit offers a broad range of LMS integrations to its customers, which include corporations as well as K-12 and higher-ed institutions. For more information, visit www.playposit.com.
About Thompson Street Capital Partners
Thompson Street Capital Partners (www.tscp.com) is a St. Louis-based private equity firm focused on investing in founder-led middle market businesses in the Life Sciences & Healthcare, Software & Technology, and Business and Consumer Services and Products sectors. TSCP partners with management teams to increase value by accelerating growth, both organically and via acquisitions.