Snapfish, the photo sharing site that was purchased by HP in 2005, has acquired the video technology platform created by Motionbox, Inc, a video sharing site. The move shows that Snapfish intends to expand its video sharing features, and that video is now as important to casual users as still photography.
On his Business of Video blog, Dan Rayburn reported that the deal could be worth nearly $20 million, but that’s likely if certain performance goals are met.
“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”, says Josh Grotstein, CEO of Motionbox. “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.”
Motionbox has announced to users that the site will shut down August 10, 2010. It posted a guide to transitioning to Snapfish.
Snapfish is clearly hoping to lure many of Motionbox’s 2.8 million customers to the newly combined service, and is offering them a 30-day trial of Snapfish Home Videos. Rather than just storing video, they’ll be able to store photos and videos in one place, if they open a Snapfish account.
“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,” says 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.”