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Jan 17, 2021
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on. Videos are one of the most effective ways to convey thoughts, ideas and concepts and is fast gaining popularity among the netizens. According to YouTube reports , mobile video consumption increases 100% year after year. Facebook generates 8 billion video views on average per day, while 53% of customers engage with a brand after watching a video on social media. However, to take advantage of this growing popularity of videos, one must concentrate on creating effective and creative videos, which is not a simple task for everyone. But now with 'InVideo' making great videos is indeed becoming everybody's cup of tea. InVideo is a web based software that helps you create fantastic videos, no matter whether you are an expert or amateur in video making. InVideo - Company Highlights About InVideo and How it Works InVideo is a software on the web that provides seamless creative video creation services. It helps marketers, entrepreneurs, agencies, other small businesses to create professional-looking videos with ease. InVideo works with an intention to make video creation an effortless and friction less process. While there are video making software, which are either too simple that creates videos which is no better than PowerPoint presentations, there are some other software that are too complex to be used by a non-expert. InVideo's USP is that it is a synthesis of both simple and complex video creation softwares available, thereby, having the best of both in one place. Engineering graduates Sanket Shah, Pankit Chedda and Harsh Vakharia co-founded InVideo. Sanket Shah, Pankit Chedda and Harsh Vakharia Prior to InVideo, the trio founded 'Massblurb', an online automated platform, helping restaurants manage their end to end online presence. After 'Massblurb' got acquired by 'Mobikon', they decided to come together to set up InVideo Currently, Sanket Shah is the CEO of InVideo. An Electrical and Electronic engineer by qualification, Sanket did Master of Science in Quantitative management from University of Michigan. Sanket worked with organizations like 'Right Relevance,Inc' and 'Mobikon Asia Pte. Ltd' in different positions. Apart from being a founding member of Massblurb, Sanket also founded 'Visify Books' - an interesting platform that presents main content of various books in video format. At InVideo, Sanket leads the Marketing and Sales department of the company. Pankit Chedda is the CTO of InVideo. After completing B.E from University of Mumbai, Pankit studied' Masters, Information Systems Management' from Carnegie Mellon University. He worked in technical positions with organizations like 'comScore, Inc', 'CouponDunia' and 'Mobikon Asia Pte. Ltd.' At Invedio, Pankit manages core tool technology. Harsh Vakharia, a chemical engineer by qualification, did M.S. in Industrial and Operations Engineering form University of Michigan. He worked in companies like A.T. Kearney and Mobikon Asia Pte. Ltd. Harsh looks after video technology and its details at InVideo. InVideo currently has a team of 45 people. How was InVideo Started A personal problem faced by the founding team has led them to establish InVideo. Back in 2012, the founding team was working on creating 10-minute video summaries of non-fiction books. The process of video production was a major hurdle for them back then as it consumed a lot of time. The team started looking for alternate solutions and realized that there are only two kinds of video creation tools: That allows the user to create a very basic video (which is worse than a powerpoint!). Which will require a trained video editor to create a video. While the simple video creating platforms have minimal scope for creativity and customization, the advanced versions are too complicated for a normal person to create high-quality, innovative videos. Identifying such a gap and personally experiencing the absence of a platform that caters to the needs of an ordinary individual who wants to create innovative high-end videos; Sanket Shah, Pankit Chedda, and Harsh Vakharia have put in collective efforts to create InVideo platform. When we researched, there were only simple video editors and complex ones; it did not work that way. So we did it! We ended up sitting beside a customer, observing them what we did - says Sanket Before launching InVideo, the team studied the customers' needs extensively through primary research. They reached out to large news channels and eventually validated the idea. Further, they built a basic engine to get a direct response from the customers before launching on a full scale. InVideo - Name, Tagline and Logo InVideo Logo The company deals in Video making, and hence the name 'InVideo' If there's any piece of content, our goal is to help people transform that content into great videos. So it's like your content in the video. Thus the name 'InVideo.' - Sanket says explaining the thought behind the name InVideo - Business Model and Revenue Model InVideo operates as a SaaS (Software as a Service) model business. It is basically a software distribution model in which InVideo hosts applications and provides them to the customers over the internet. InVideo works on a freemium model, with paid plans starting at $10 per month. InVideo - User Acquisition and Growth InVideo has over 800,000 users from more than 150 countries who have created videos in over 75 languages. When we had started building the technology, we had found partners like Republic TV, Network18, etc., who helped us in understanding what we should build. As InVideo has been built taking the inputs from the customers, the company has managed to emerge strong and successful. With strategic planning, the team was able to build a market fit product, and from thereon, the mouth referrals have helped the company to get popular. So we built this company with our customers. And so it's so successful. We went ahead and built the entire company with our customers. Furthermore, InVideo has undertaken intense marketing campaigns and growth hacking. Besides, they also adopted numerous other strategies and techniques to popularize the platform. InVideo takes great care of customer expectations and designs its products in sync with customer demand. The company also has a 24/7 customer support team that responds in minutes. Adobe Creative Clouds revenue is 6.5 billion, and they are only targeting professional video editors. We think that our market size is at least 10x because we are targeting anyone who is desiring to create a great video - says Sanket about InVideo's target market Apart from this Launching LTDs has also helped them a lot in gaining new users. InVideo - Funding and Investors InVideo - Future Plans InVideo's Net Promoter Score (NPS) has increased by almost five times, from 12 to 59 in just three months. Over the long-term, InVideo envisions to create an ecosystem like Adobe, enabling every marketer, entrepreneurs, who desire to create a video, to be able to do that easily. Now, InVideo wants to expand from a web platform to a cross-device and cross-function space. They are aiming for 5 million users in the next two years. The team is also planning to create a platform that will help users in creating templates. Our vision has been very simple, that actually we want to take over the world. When people think about video, they need to think about InVideo.