November was a very eventful month for Pinterest. Coupling with several useful updates from last month, Pinterest announces its recent acquisition of the video editing app Vochi, which enables users to easily add effects to their clips. Now that’s one way to have a solid start in December.  Check out their official Tweet.

As per Pinterest:

“Today we’re announcing that we’ve acquired Vochi, a video creation and editing app focused on democratizing quality tools for creators. Acquiring Vochi is part of our commitment to helping creators bring more quality video content to Pinterest. Having more inspiring content can provide Pinners with more ways to watch, make and shop creator ideas.”

For a little historical context, and to aid in explaining why Vochi is potentially a major grab for Pinterest, the app was launched back in November of 2019 and has since gained favor, especially among creators, enough to currently bring it to about 500k monthly active users (MAUs), with around 20k being committed to a paid subscription. Numbers wise, though not great, the additional user-base at least helps bolster Pinterest’s own declining one.

Here’s An ‘Idea’

Vochi enables users to remove certain items from clips, add 3D effects, and basically add and/or edit various types of visual elements. It was launched primarily as a video editing app that would cater to mostly creators, seeing as how its core function is based on advanced segmentation algorithms. True enough, besides affording it a couple of hundred thousand users , Vochi’s advanced effects and editing capacities greatly impacted the ease at which people could edit their videos.

At the time of acquisition, Vochi had a solid 4.7 app rating, shared between the app store and Google store, and generated around $4 million in annual revenue, mainly through subscriptions and add-on features. Interestingly enough, throughout its life, Vochi was able to raise around a total of $3.9 million in capital, with $1.5 million as seed funding and $2.4 million so that it could continue its development.

Now that it will become a part of Pinterest, Vochi tools will eventually be integrated into Pinterest’s creator suite, significantly adding more elements to its growing video push, thus further emphasizing the potential of its ‘Idea Pins’ – Pinterest’s take on IG Stories. Pinterest is not really known for video, which is why it’s so interesting to see how its acquisition of Vochi will impact the current direction Pinterest is taking. Hopefully, the new elements lead to positive traction for the app, despite the present shifts as we all slowly go back to pre-pandemic trends.

The Wrap 

Coincidentally, video pin viewing went up by as much as 3x in 2020, and has since then continued to rise, which honestly spells well for Pinterest since it adds an entirely different class of engagement. With more and more people drifting towards video, the advanced video features from Vochi will surely make Pinterest more relevant, allowing it greater reach and a more dynamic suite of tools.

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Sources

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