After being acquired by Verizon, AOL has now bought Kanvas Labs, video and visual messaging app maker to have a competitive edge over the Snapchat.
Founded in 2011, Kanvas has an app that allows users to create, edit, share photos, audio and slow-motion videos through mobile phones to others. Unlike other editing tools, it has the range of flagship products that help its users to craft “artsy” GIFs, slow motion and time-lapse videos, animations, drawings and slideshows. Started as Tracks, the startup later renamed it Kanvas after the launch of the app. Till date, the company has raised around $3.4 million in angel and seed funding.
With the acquisition, AOL announced its plan to assist Kanvas Labs in building a global audience of millennials. The app would be soon plugged into AOL’s products and platform with the Kanvas Labs’ team moving into AOL’s office on Broadway. “Multimedia content is exploding on mobile devices,” said Dave McDowell, senior vice president of communication products at AOL. “Kanvas Labs will help AOL enable incredible experiences for multimedia creators and consumers.”
Having taken a position between the still images and an animated video, this GIFs looping format have long been popular on the web in ad campaigns to demonstration videos. Quite recently, Adidas had offers its users with embeddable GIF of their experiences interacting with a wider Boost Campaign. “Boost Yourself” photo booth were transmitted to virtual Boost capsules on campaign’s visual wall. Hulu had also launched a GIF search with the help of Tumblr that allows people to search and find TV-related GIFs by Shows, Actions and Reactions.