Kaleido, the maker of background removal services for videos and images, has been acquired by the design platform, Canva.
This is the perfect product at this time. Back in 2019, the Vienna-based Kaleido introduced a quick and simple background for images. It’s a great alternative for people who want to do this kind of work but don’t want to use photoshop.
Late last year, they acquired Unscreen, which introduced the same thing for video. It was a similar task but more difficult to deploy. Canva made this acquisition at just the same time it acquired another company, the product mockup generator Smartmockups. This suggested a big product expansion by the growing design company.
The CEO and co-founder of Kaleido, Benjamin Groessing, said in a statement, “We didn’t have any investor in the company from day one. We have just two founders, along with an incredible team. That’s why we have been quite profitable since day one. All I want to say is that this acquisition wasn’t that essential for our company. However, it was the most logical thing to do.”
The company didn’t provide any further details regarding the acquisition. However, it made perfectly clear that the name and the brand are going to survive. Unscreen seems just like the perfect name for the company.
The German outlets, Der Brutkasen and Die Presse (https://www.diepresse.com/5941153/wiener-start-up-schafft-supercoup) provided the sources putting the purchase close to the largest Austrian exits. However, it is in the two-digit millions, which suggests a price close to $100 million. Still, it is a big achievement for the company. This acquisition is less than other company acquisitions like Snapchat acquired AI Factory for $166 million.
No matter what the exact amount is, the team is quite happy with what it has achieved so far. Moreover, they put their images together by using their own products.
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