AOL announced the acquisition of Vidible, a startup that operates a video-syndication network with more than 300,000 clips, as the Internet media company looks to further grow its digital-video footprint.
Financial terms of the deal weren’t disclosed. AOL is paying about $50 million for the company, Re/code reported, citing anonymous individuals.
Founded in 2012, Vidible raised about $3.5 million in funding this year from Greycroft, IDG Ventures and the New York Times Co. The company’s online marketplace connects content owners with publishers.
Vidible will help AOL “accelerate our mission of providing our partners the platform and tools they need to better create, curate, syndicate and monetize their content across the globe,” Dermot McCormack, who was recently named president of AOL Video and Studios, said in a statement.
Vidible is based in Bellevue, Wash., with offices in New York City and San Francisco. According to the company, its content exchange include more than 300,000 videos and more than 800 million monthly video plays. AOL said those will be in addition to the AOL library of 1 million videos.
Last summer, AOL bought Adap.tv, a provider of a “programmatic” online-video ad-buying platform, for $405 million in cash and stock. In September 2010, AOL had acquired video-syndication startup 5min, which has formed the basis for its current Internet-video content business.
AOL said the increase in ad-sales revenue for the third quarter — up 18% overall year over year — was driven by video and other premium formats, and by the inclusion of revenue from Adap.tv for a full quarter in 2014 versus approximately one month in 2013. Excluding Adap.tv, third-party platform revenue grew approximately 22% for the most recent period.