Adobe today announced it will acquire Frame.io for $1.275billion in cash. Frame.io is a video review platform and collaboration platform that has been used by more than a million people.
Frame.io, a New York-based post-production company owner Emery Wells joined forces with technologist John Traver to address the workflow challenges that filmmakers face every day.
Frame.io is a platform that helps creative professionals simplify the process of creating video. It centralizes media assets such as scripts, dailies and storyboards. The platform also allows for frame-accurate feedback, comments, annotations, and real-time approvals. Frame.io boasts faster upload speeds than any other cloud hosting service, such as Vimeo, Box and Dropbox.
Frame.io has raised $90 Million in venture capital over its life. In November 2019, Frame.io announced a $50,000,000 Series C led By Insight Partners. This included participation by Shasta Ventures, Shasta Ventures, FirstMark and SignalFire. In 2015, Accel was the chief investor in the seed and series A rounds.
Adobe claimed that the combination of Adobe's creative software (including After Effects and Premiere Pro video editing products) and Frame.ios review-and-approve functionality would create a collaborative platform that powers video editing. Frame.io integrates with non-linear editing platforms (NLEs), such as Adobe Premiere Pro. These integrations allow editors upload directly to Frame.io and then organize and share their products with clients externally.
Adobe stated in a statement that video creation and consumption are experiencing tremendous growth. Video workflows today are fragmented, with many tools and communication channels used to seek stakeholder feedback. Frame.io removes inefficiencies in video workflows. It allows real-time footage upload and access and facilitates stakeholder collaboration across multiple surfaces.
The deal is expected close in the fourth quarter of Adobe's fiscal year 2021. It is subject to regulatory approvals and other customary closing conditions. After the deal is closed, Wells and Traver will be joining Adobe. Wells will still lead Frame.io, reporting to Scott Belsky (Adobes chief product officer, EVP Creative Cloud).
