18 Dec Madison company Vidmaker says it has been acquired by YouTube
Vidmaker Inc., a Madison company with a video-making platform, has been acquired by YouTube, according to the company’s website.
“We built Vidmaker with the goal of making it easy for anyone, anywhere to create great online video. Today we’re excited to announce our team will be continuing that journey at YouTube,” the website says.
Vidmaker said it will be shutting down as it makes the transition. Its video service will remain available through the end of January 2015, the website said.
Vidmaker’s platform allows real-time editing, sharing and management of videos between multiple people. The company was founded in 2011 and previously raised approximately $650,000 in funding, according to a post on the Capital Entrepreneurs website. The amount YouTube paid was not disclosed, the website said. YouTube is a subsidiary of Google.