Pinterest has reportedly acquired Vochi, a video creating and editing app, for an undisclosed sum. The social media company will bring in Vochi’s 40-person team which includes its founders, to expand its set of video creation tools and assist creators in making more dynamic videos.
Over the past year, Pinterest has been striving to change its identity of just being an image pinboard that inspires plans and purchases. Instead, the company seeks to untap its potential as a platform for creators who can present their ideas in video format-be it recipes, home décor ideas, DIY craft projects, fashion ideas, beauty tutorials among others.
To take advantage of this activity, Pinterest launched Ideas Pins this spring which is a video-first feature that enables creators to convey their stories using editing tools like music transitions, voiceovers, and other interactive effects. Recently, the company launched a new way for users to browse these videos in a ‘Watch’ tab, where it fostered participation with creator awards worth USD 20 million.
Pinterest also rolled out Creator Originals, its in-house original video content, which has been helping creators monetize their videos by tagging products for sale, engaging in brand collaborations, and participating in associated shopping programs among others.
With Vochi, the company will be able to introduce more quality videos to its users, cited Pinterest.
Pinterest’s goal in acquiring Vochi stems from the alignment of its technology with its investment in video format to assist creators in expressing themselves. Pinterest has also recognized how easily the effects could be applied to video.
Vochi, the video editing app, uses a licensed video segmentation algorithm based on computer vision that applies different effects to images in static photos or certain moving objects in a video.
Some of the effects include a glitch effect, a motion effect that highlights movement, a clones effect that changes the shadows and light, or effects that add animated objects like neon shapes or bursts of butterflies, and much more.
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