Open main menu

Wistia

Wistia Inc. is a video-software company located in Cambridge, Massachusetts.[1] Wistia provides video-hosting solutions for business, helping businesses add videos to the web, track performance, and build and engage with their audiences using online videos.[2] Over 300,000 companies use Wistia's products and services, including Starbucks, Zendesk, HubSpot, Sephora, and Tiffany & Co.[3][4] The company employs 87 people.[5]

Wistia Inc.
Private
IndustrySoftware, SaaS
FoundedMarch 6, 2008; 10 years ago (2008-03-06)
FoundersChris Savage, Brendan Schwartz
Headquarters,
United States
Area served
Worldwide
ProductsWistia, Soapbox
Servicesvideo hosting, video recording
Number of employees
87
Websitehttps://www.wistia.com/

Contents

HistoryEdit

Wistia was founded in 2006 by Brendan Schwartz and Chris Savage.[3] The two founders met at Brown University, where Chris was a film student and Brendan was a computer engineering major.[6] The company was started in Brendan's living room.[7] The original concept was to create a site for artists to post video portfolios. Priority shifted to businesses once Wistia acquired its first client, a medical-devices company called GI Dynamics.[6][8]

Wistia's founders considered moving the company to Silicon Valley[9] and Los Angeles[10] but ultimately decided to stay in Boston.

From 2013 to 2017, Wistia hosted an annual video-marketing conference called WistiaFest, which included speakers from consumer technology companies, creative agencies, and video-production companies.[11][12] In 2018, the company announced it was ending the conference.[11]

Wistia has experimented with pricing in the past. When the company was launched, it offered three plans at $99, $200, and $400.[13] In 2012, the company switched to a freemium model.[13] Now, the company offers three plans: free, Pro at $99 per month, and Advanced at a negotiated price per month.[14]

Features and TechnologyEdit

Wistia is a SaaS online video platform (OVP). It offers an end-to-end solution, from uploading and encoding video to user management for both video on demand and live streaming.[15]

Video playerEdit

Wistia's video player allows businesses and individuals to post videos online[16] as embeds on web pages or social media.[17] Users can customize the player's color and functionality.[18]

Video analyticsEdit

Wistia analytics provides data on video audiences and watching behavior,[19] such as which parts of videos users are skipping or watching again.[20]

SoapboxEdit

Soapbox is a Chrome extension that allows users to record their screen and webcam simultaneously, edit the video, and export it in various forms.[21]

iOS appEdit

Wistia's mobile app allows current Wistia users to create, manage, and share videos from their phone or tablet. Users can upload video recorded on their mobile device to Wistia projects, add customizations, and share.[22]

Video TechnologyEdit

Wistia's main video-player product has three technical components:[23]

  • The Wistia app is the user-facing product, where users log in and interact with the app.
  • The “Distillery” is used for statistics processing based on data from Wistia's video tracker, which collects video plays, pauses, and seeks. The Distillery turns the data into heatmaps for analytics.
  • The “Bakery” transcodes videos and stores the files.

Wistia uses several technologies to power its platform, including:[23]

FundingEdit

Wistia has been financed by a mix of angel investors and debt. In 2018, Wistia raised $17 million[24][25] worth of debt financing from Accel-KKR, a technology-focused private-equity firm.[3]

Wistia also raised $200,000 in debt in 2009.[26] Previously, the company raised $1.4 million in two rounds from angel investors, in 2008 and 2010.[3] Angel investors include a Wistia board member, Renesys CEO Ashton Peery.[27]

Wistia makes $32M per year in revenue.[24]

Awards and RecognitionEdit

In 2018, G2 Crowd named Wistia one of the 25 best companies in Boston.[28] In 2017, it was named one of the top company cultures in America by Entrepreneur magazine.[29]

ReferencesEdit

  1. ^ Ditch the Venture Model, Say Founders Who Buy Out Early Investors to Make a Clear Break. The Wall Street Journal. Accessed 2018-10-02.
  2. ^ "Company Overview of Wistia, Inc". Bloomberg. Bloomberg LP. Retrieved 2018-10-03.
  3. ^ a b c d "Wistia". Crunchbase. Retrieved 17 October 2018.
  4. ^ Engel, Jeff (2017-06-12). "As Businesses Get More Social, Wistia Moves Into Video Editing". Xconomy. web. Retrieved 2018-10-03.
  5. ^ "Wistia Yearbook". Wistia. Wistia, Inc. 2018. Retrieved October 3, 2018.
  6. ^ a b Sal Daher (9 May 2018). "Wistia's Remarkable Culture". Angel Invest Boston (Podcast). Angel Invest Boston. Retrieved 3 October 2018.
  7. ^ Savage, Chris (2017). "The Three Mistakes That Have Defined Our Company". Wistia. Wistia, Inc. Retrieved October 2, 2018.
  8. ^ Cruz, Victor. "Online Video Sharing and Collaboration Speeds Up Medical Device Development". ECN Magazine. Retrieved 17 October 2018.
  9. ^ Roush, Wade. "Don't Put That DVD In the Mail: Wistia Helps Companies Share Video Over the Internet". Xconomy. Xconomy, Inc. Retrieved 17 October 2018.
  10. ^ Devaney, Erik. "Why Wistia Said No to HBO". Thinkgrowth.org. Medium. Retrieved 17 October 2018.
  11. ^ a b Savage, Chris. "Farewell to the 'Fest: Why We're Ending Our Annual Conference". Wistia. Wistia, Inc. Retrieved 17 October 2018.
  12. ^ "WistiaFest 2017". Wistia. Wistia, Inc. Retrieved 17 October 2018.
  13. ^ a b Savage, Chris. ""Monetize Backwards" to Build a SaaS Business That Lasts". Wistia. Wistia, Inc. Retrieved 17 October 2018.
  14. ^ "Get more from your marketing videos". Wistia. Wistia, Inc. Retrieved 17 October 2018.
  15. ^ "Online Video Platforms Market Size, Industry is growing at 18.0% CAGR to 2023". MarketWatch. 2018-08-30. Retrieved 2018-10-03.
  16. ^ "Tech 101: Don't use hit music in your videos; it's not cool". USA Today. 2018-07-28. Retrieved 2018-10-03.
  17. ^ "The Wistia Online Video Player". Wistia. Wistia, Inc. 2018. Retrieved October 2, 2018.
  18. ^ "Wistia Review". Finances Online. FinancesOnline. 2018. Retrieved October 2, 2018.
  19. ^ "Wistia Marketing Analytics". Wistia. Wistia, Inc. 2018. Retrieved October 2, 2018.
  20. ^ Alspach, Kyle (2014-10-20). "Wistia Wants Lots of Its Video Hosting Customers to Stop Paying". BostInno. Retrieved 2018-10-03.
  21. ^ "Soapbox — screen & webcam recorder". Chrome Web Store. Google. 2018-09-25. Retrieved October 2, 2018.
  22. ^ "Wistia". Apple App Store. Apple. 2018-04-28. Retrieved October 2, 2018.
  23. ^ a b "How Wistia Handles Millions Of Requests Per Hour And Processes Rich Video Analytics". High Scalability. Todd Hoff. 2015-11-20. Retrieved October 2, 2018.
  24. ^ a b Geron, Tomio (2018-07-17). "Ditch the Venture Model, Say Founders Who Buy Out Early Investors to Make a Clear Break". The Wall Street Journal. Retrieved 2018-10-03.
  25. ^ O'Brien, Kelly J. (2018-07-18). "Video startup Wistia to buy out investors with $17M in debt". Boston Business Journal. Retrieved 2018-10-03.
  26. ^ Notice of Exempt Offering of Securities, item 06 Acc-no:0001473673-10-000001 (Report). United States Securities and Exchange Commission. 2010-03-24.
  27. ^ "Ashton Peery". CB Insights. Retrieved 17 October 2018.
  28. ^ Martin, Dylan (2018-01-17). "Here Are the Best Boston Software Companies, According to G2". BostInno. Retrieved 2018-10-03.
  29. ^ Staff, Entrepreneur (2017-02-17). "Medium-Sized Companies: The Best Company Cultures in 2017". Entrepreneur. web. Retrieved 2018-10-03.