Victoria-based STN Video has been acquired by technology and sports content company Minute Media for an undisclosed amount.
The deal will bring STN Video’s library of over 2 million videos under the Minute Media umbrella. In a statement, Minute Media said the acquisition is aimed to improve how it creates, distributes and monetizes sports and culture content.
STN Video claims to have partnerships with every major sports league in the US.
“With STN’s sports content highlight rights and award-winning video technology, Minute Media’s partners and clients will have access to a 360-degree view of the sports industry, combining content from athletes, teams, creators, and now, leagues,” Asaf Peled, founder and CEO of Minute Media, said in a statement.
Founded in 2010 as SendtoNews, the company offers an online video platform that includes content from major sports leagues, such as Major League Baseball and the National Football League. The platform allows publishers, such as the New York Post, Chicago Tribune, and Miami Herald, to embed code on their website, and relevant video content is instantly matched and populated within their articles at no cost.
The startup, which officially rebranded to STN Video in 2021, claims to have partnerships with every major sports league in the United States. In addition to its focus on sports content, STN Video’s library also spans business, technology, entertainment, and lifestyle, boasting partnerships with Bloomberg and Variety.
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“STN Video was built for distribution partners who care about content, user experience, and monetization,” Matthew Watson, CEO of STN Video, said in a statement. “We are thrilled to continue our journey with Minute Media to maximize our global video reach for content providers and advertisers across their unique platforms.”
Minute Media is a global content company that claims to reach 200 million monthly users. The company’s platform is aimed to support the creation, distribution, and monetization of digital short-form content experiences.
In the last seven years, STN VIdeo has made several appearances on Deloitte’s Technology Fast 50 list, which spotlights Canadian companies that have achieved substantial revenue growth over a three-year period.
A spokesperson for STN Video told BetaKit that the startup’s entire team will stay on and the company will continue to operate out of Victoria, noting that half of its team is already spread across Canada and the United States.
Feature image courtesy Unsplash. Photo by Dave Adamson.
