The Top 500 apparel chain plans to expand its reserve online, pick up in store program, as well as its presence in China.
Amazon puts more money into a video-making service
Amazon’s investment is part of $25 million raised by Animoto.
Editor in Chief
Amazon.com Inc. has made another investment in Animoto Productions, a web-based service that lets consumers turn photos and videos into lively slide shows with musical backgrounds.
Amazon, No. 1 in the Internet Retailer Top 500 Guide, participated with two other companies in the latest fundraising round for Animoto. Amazon declined to say how much it invested, or to comment on the deal. Amazon previously put money into Animoto in 2008.
Spectrum Equity Investors led the current funding round, and was joined by Madrona Venture Group, which also had previously put money into Animoto, and Amazon. As part of the deal, Ben Spero, managing director of Spectrum, will join the Animoto board of directors.
In the past year, Animoto says, it has launched a faster version of its video-creation service, introduced high-definition features, updated its iPhone application and enabled other companies to offer the Animoto service through their own web or mobile sites or software. Among the companies linking to Animoto to offer such services, Animoto says, are greeting card retailer American Greetings Corp., No. 187 in the Top 500 Guide, and Eastman Kodak Co.’s online photo-printing service, Kodak Gallery.
“With our rapidly growing and highly engaged user base, Animoto is uniquely posited to capitalize on the rapid convergence of photos, videos, mobile and the digital living room,” says Animoto CEO Brad Jefferson. Animoto says more than 3 million consumers have registered to use its service and it has 100,000 paying subscribers in more than 150 countries.