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Yahoo has bought Jumpcut, a Flash-based online video editing site, for an undisclosed sum, the companies announced this morning. With the purchase, Yahoo gains another key buzzword for its web 2.0 acquisition porfolio: mashups.
This was a small purchase, and it’s interesting that didn’t come from Yahoo’s internal development efforts. Yahoo had, however, worked on its own video remixing tool internally. When I met Jumpcut earlier this summer, they had 11 employees, had raised $1 million in seed money, and were trying to close another round. Perhaps it has to do with Jumpcut’s fairly advanced experimentation with Flash, led by former Macromedia developer Ryan Cunningham.
Back at that interview last summer, when I proposed buying Jumpcut might be a good competitive edge for one of the online video sharing sites or portals, CEO Mike Folgner told me he’d wasn’t looking to settle down with just one company, rather to build partnerships with everybody. Ah well…I can understand how a Yahoo acquisition offer could be persuasive.
Jumpcut is very young; Folgner wrote the business plan early last year while at Stanford Business School, raised money in November, and put out the first product in April. Since then the company has cut deals with Warner Independent Pictures and Fox Atomic to get users interacting with professional content, in the first case through piecing together clips into a trailer, and in the second to submit audition clips for a casting call. Folgner was also in the process of signing deals to license music and export video to sites like Blogger, eBay, and TypePad.