Minute Media, backed by BlackRock and Goldman Sachs, announced its acquisition of Indian AI startup VideoVerse, enhancing its portfolio that includes Sports Illustrated and The Players’ Tribune. Founded in 2016, VideoVerse specializes in AI-powered video editing for sports, serving major clients like the Indian Premier League and FIFA+. Although valuation details weren’t disclosed, sources estimate VideoVerse was appraised at $200-$250 million. The deal aims to leverage VideoVerse’s technology to generate and distribute sports content effectively, tapping into the growing demand for mobile-focused coverage. With $65 million in revenue and a strong EBITDA margin, VideoVerse has shifted focus from general AI tools to sports-specific solutions. Minute Media, which reaches over 200 million monthly users, plans to utilize the acquisition to enhance content creation and monetization opportunities while targeting U.S. leagues. CEO Asaf Peled emphasizes the importance of AI in meeting evolving consumer preferences in sports media.
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