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Redbrick acquires Animoto, video creation platform

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Redbrick
Aug 22, 2023
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We’re doubling down on software for the digital entrepreneur and adding Animoto, a cloud-based video creation platform, to our global portfolio of companies.

Today, we’re excited to welcome Animoto as the newest Redbrick portfolio company! This marks our third major acquisition in the last four years and the latest addition to our growing set of software products that support digital entrepreneurship.

Animoto’s patented Cinematic AI technology allows users to easily turn photos, screen recordings, or short clips into branded videos.

Over the last 17 years, Animoto has helped businesses, entrepreneurs, and enthusiasts create videos through intuitive drag-and-drop software. The platform supports over 70,000 users breaking into video marketing and creating high-quality, versatile content.

"By acquiring Animoto, we're making Redbrick's portfolio stronger and more diverse. This acquisition means we've reached $100M in annualized revenue and nearly 200 team members. Animoto's role in Redbrick is really important, as it allows digital entrepreneurs to tap into the power of video, which is the fastest-growing way to reach people online."

Tobyn Sowden, CEO of Redbrick

We set our sights on a $100M revenue goal back in 2019 when we moved into our new downtown Victoria headquarters. With the addition of Animoto, we’ll be surpassing that achievement and reaching an international headcount of almost 200 employees.

This acquisition is also a major milestone for us as we steer our portfolio toward providing support for the digital entrepreneur. Adding Animoto to the Redbrick family is a strategic move to capture software in the video space.

Scaling a video creation tool means we can provide entrepreneurs with a foothold in the most engaging, and farthest-reaching segment of content marketing. It’s also an opportunity for us to dip our toes into a new area of AI technology and get us thinking about how we can apply it elsewhere in our companies.

Animoto’s product joins the ranks of our current portfolio: Leadpages, Delivra, Rebase, and Shift. With a backdrop of these powerful companies, the Animoto team will have the Redbrick advantage of unrivaled marketing expertise and innovative direction. We’re excited to see what we can accomplish as we embark on this next chapter with Animoto and AI.

We have a year of unprecedented growth ahead of us, there’s more to come from 2023 yet. Read the full press release here, or visit Animoto for more information.