PRESS RELEASE: Snapfish by HP Acquires Video Platform Technology from Motionbox, Inc.
PALO ALTO, Calif., July 12, 2010 – Snapfish by HP today announced an agreement to acquire the video technology platform from Motionbox, Inc., the video sharing site with over 2.8 million members worldwide. This acquisition will enable Snapfish to expand its online video offering.
"Video is a critical component of digital memory sharing today, and Motionbox's technology will enable our Snapfish customers to create great personal video memories," said Helen Vaid, General Manager of Snapfish. "With today's announcement, we are very excited to start integrating the video platform Motionbox has developed into our popular Snapfish Home Video product."
Motionbox customers will now be able to experience a seamless photo and video sharing experience as their digital assets will be in one place when they set up their Snapfish account.
"We think Snapfish's integration of the technology acquired from Motionbox will be a great way to take personal video sharing to the next level", said Josh Grotstein, CEO of Motionbox and an early backer of the Company. "Our vision has always been to make sharing personal videos as easy and affordable as sharing digital photos. No other photo sharing company is nearly as well positioned to bring our platform to a wide, global market."
Snapfish by HP is the No. 1 online personal publishing service in the world, with more than more than 85 million registered users in 22 countries and more than 10 billion unique photos stored online. The current Motionbox.com site will continue operating until August 10, 2010.
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(First posted on Monday, July 12, 2010 at 20:01 EDT)