Magisto chosen as a 2014 Red Herring Top 100 Europe
AMSTERDAM, April 16, 2014 /PRNewswire/ -- Red Herring announced its Top 100 award winners last week, recognizing Europe's leading private companies and celebrating these startups' innovations and technologies across their respective industries. Magisto, the cloud based mobile video platform was among the winners.
Red Herring's Top 100 Europe list has become a mark of distinction for identifying promising new companies and entrepreneurs. Red Herring's editors were among the first to recognize that companies such as Facebook, Twitter, Google, Yahoo, Skype, Salesforce.com, YouTube, and eBay would change the way we live and work.
"Selecting startups that show the most potential for disruption and growth is never easy," said Alex Vieux, publisher and CEO of Red Herring. "We looked at hundreds and hundreds of candidates from all across the continent, and after much thought and debate, narrowed the list down to the Top 100 Winners. Each year, the competition gets tougher but we believe Magisto offers a platform and technology for personal video to scale worldwide as never before and that they demonstrate the vision, drive and innovation that define a Red Herring winner."
Oren Boiman, CEO and co-founder, Magisto said, "We were honored to be recognized by Red Herring with such a distinguished group of entrepreneurs from across Europe. Magisto is experiencing explosive growth around the world and we recently reached 30 million users creating and sharing their professional quality personal movies with our technology and platform."
Red Herring's editorial staff evaluated the companies on both quantitative and qualitative criteria, such as financial performance, technological innovation, management quality, overall business strategy and market penetration. This assessment was complemented by a review of the track records and standings of similar startups in the same verticals, allowing Red Herring to see past the "buzz" and make the list a valuable instrument of discovery and advocacy for the most promising new business models in Europe.
"This is a pivotal time for Magisto as we also recently announced a new distribution deal with European telecommunications giant Deutsche Telekom," continued Oren. "The strategic partnership between Deutsche Telekom and Magisto will deliver the award-winning Magisto app to millions of Deutsche Telekom's European customers. In addition, the Magisto app will be available on Amazon's newly announced Fire TV, which will bring Magisto movies into the living room. It is great to be able to add the milestone of the Red Herring Europe 100 to our current accomplishments."
About Red Herring
Red Herring's Top 100 Europe list has become a mark of distinction for identifying promising new companies and entrepreneurs. Red Herring's editors were among the first to recognize that companies such as Facebook, Twitter, Google, Yahoo, Skype, Salesforce.com, YouTube, and eBay would change the way we live and work. Since 1996, technology industry executives, investors, and strategists have valued the Red Herring 100 lists as an instrument for discovering and advocating the most promising private ventures from around the world.
Driven by artificial intelligence and simple user experience, Magisto is a cloud-based mobile technology service for creating and sharing beautiful quality personal movies. It automatically selects the most compelling moments from ordinary videos and photos and, like an expert video editor, weaves them together to convey a story with customized styles and music. Magisto is used by millions of customers and can be accessed across iOS, Android, the Amazon Appstore for Android and the Web, and is the highest-rated video creation app in the Google Play and iOS App Stores.
The company is funded by Horizons Ventures, Magma Venture Partner, Qualcomm Incorporated, through its venture capital arm, Qualcomm Ventures, and SanDisk Ventures. The company maintains its headquarters in Tel Aviv, Israel with offices in New York and California.