Well, that was fast.
Vemory raised its undisclosed first round of funding only this past April and seems to have put it to use rather quickly.
Splice is a mobile photo-editing app. It lets users pull together video, photos, sound, music, text, and so on, and edit them using a variety of features. Users can then share the resulting videos right from the app, even on YouTube. Path 36 released Splice in 2010, and there is a free version and a paid one with premium features. The apps have been downloaded 12 million times, according to the company.
It’s not hard to see why Vemory would acquire Splice. Vemory’s app lets you hook up your social media accounts that contain photos and your camera roll, and using algorithms, automatically generates albums based on themes, time periods, tags, and so on. Users can also manually edit the photos and albums, and even manually create photo albums.
Offering additional editing juice is almost a no-brainer here.
Vemory says that it will keep Splice’s app running on its own while also incorporating its technology into Vemory’s app, and Vemory’s into the Splice app.
Splice’s ability to work with media beyond photos (video, text, sound, music, etc.) likely also appealed to Vemory. When we spoke to Vemory chief executive Hunter Powell, he said that, “The bigger picture is autogeneration of content,” hinting that applying Vemory’s technology and approach to video, text, sound, and the like is Vemory’s bigger-picture goal.
Magisto, an app that also crunches out remix videos of media, can string together video clips and photos, making this acquisition a good move if Vemory wants to keep up and move beyond just photos. We’re assuming here that Splice is the first step in that direction.
Vemory was founded in 2012 and is based in Austin, Texas.