BlackRock-backed Minute Media acquires Indian AI startup VideoVerse for ~$200-250M to boost sports content automation & distribution.
VideoVerse's AI helps broadcasters like IPL & FIFA+ auto-extract highlights, create clips, & generate social media content from sports footage.
The Mumbai-based startup, founded in 2016, shifted focus to sports video-editing tools & now boasts $65M revenue with strong 35-40% margins.
Minute Media (owner of Sports Illustrated) plans to merge VideoVerse's AI creation tools with its own massive distribution network of 500+ publishers.
The deal is Minute Media's largest acquisition, aiming to monetize AI-generated sports highlights for a global audience of over 200M monthly users.
VideoVerse's platform uses proprietary AI to identify key game moments, allowing clients to set rules for auto-generating specific highlight packages.
Beyond highlights, VideoVerse's tech includes AI-powered translation features to help sports properties reach international fans.
The acquisition will help Minute Media target major U.S. sports leagues to adopt its new AI-powered highlight and content generation platform.
VideoVerse initially built AI tools for movie censorship & e-commerce before pivoting to become a specialist in sports broadcasting technology.
Minute Media may seek more funding for future acquisitions, betting that AI is key to creating the mobile-friendly content modern fans demand.