Powtoon, an online platform that allows its users to quickly produce videos for digital marketing, YouTube advertisements or company discussions, today announced that it has acquired Tel Aviv-based Showbox.com, a cloud-based video-editing platform for beginners that had actually raised $124 million prior to this acquisition and currently holds six video innovation patents.
Powtoon, which says that it has more than 25 million users, plans to incorporate into its own products a number of Showbox.com’s features, including its green-screen innovation.
This is rather a departure for Powtoon, which always concentrated on letting its users develop videos without needing to ever appear in them. That made it great for explainer videos, but likewise limited its appeal. To gain market share and expand its function set, Powtoon clearly acknowledged Showbox.com as a sensible acquisition, considered that its focus is directly on making amateur video look great.
” When the possibility occurred for us to get the company, we jumped on this special chance,” said Ilya Spitalnik, Powtoon’s creator and CEO. “This acquisition positions Powtoon to deliver a lot more value to our consumers. Our users will soon be able to develop videos utilizing vibrant green-screen technology, making it appear as though they were produced in an expert studio, even if they were shot at their workplace desk or in their basement.”