There’s been some great news for the local tech startup ecosystem overnight, with Microsoft announcing the acquistion of Brisbane-based video creation company Clipchamp for an undisclosed sum.
Clipchamp, which has been likened to Canva, provides easy-to-use in-browser video editing tools for users.
The company aims to combine the simplicity of a web app with the full computing power of a PC with graphics processing unit (GPU) acceleration.
Microsoft says the acquisition will boost its Microsoft 365 offering and provide users with tools fit for the current environment.
“Small business owners, marketers, influencers, students, educators, families, and information workers of all types need the capability to make great videos with minimal effort. Whether it’s a 10-second social media ad, a 2-minute pitch for a product, or a 20-minute instructional video, Clipchamp and Microsoft will provide the tools and experience you need,” said Microsoft Corporate Vice President, Office Media Group Chris Pratley.
“If you are already a Clipchamp user, it’s all going to get better with more options, more power, and the easy creation experience you love.”
Clipchamp recently raised $13.2 million in Series A funding.
Clipchamp CEO and co-founder, Alexander Dreiling explained the decision to sell in a blog post.
“Startup founders go through different stages from incorporating a business, to hiring the first employees, raising several rounds of funding and eventually they will try to exit through an acquisition or going public. And while an exit event is the end of a startup journey, it is also the beginning of a new journey. In our case that will be a journey under a Microsoft umbrella,” he said.
“Becoming part of Microsoft allows us to become part of a future legacy. Under no other scenario could our future look more exciting than what’s ahead of us now.
“At Clipchamp we have always said that we’re not suffering from a lack of opportunity, there absolutely is an abundance of opportunity in video. We just need to figure out how to seize it. Inside Microsoft we can approach seizing our opportunity in entirely new ways.”
