- Greg Kostello
- ATA Fund II
- ATA Involvement:
Givit is a simple, mobile and web solution for privately and publicly sharing video with friends, family, and colleagues. Givit allows anyone to instantly and securely share videos, personal messages, or special moments exclusively with the audience meant to see it. Givit focuses on creating the best consumer video experience from capture and creation to sharing and feedback.
Startups have a vulnerable period of growth where much of their income is derived from a shortlist of clients, and in many cases, the loss of a top client represents significant impact on an operating model, so much so that desperate measures are required to manage the consequences. San Diego-based VMIX experienced such an event.
Learning unexpectedly that its flagship client would exit the consumer market, a market that represented substantial historic growth for VMIX’s cloud-based video management solution, VMIX put in motion a plan to transition the company away from a technology infrastructure model to a consumer application capable of uniquely leveraging its industry-leading network.
To assist the company, ATA would be called upon to invest additional capital, but perhaps more importantly, help guide the team into a complex consumer market filled with subtleties typically learned over years of engagement. With limited consumer-based DNA residing within the company, ATA offered its partner John Loiacono to the company to provide market recommendation and guidance.
“JohnnyL’s market leadership in the video market is legendary. When he joined ATA after years of heading all creative video businesses at Adobe Systems, we were thrilled to learn that ATA would make him available to assist us.” Greg Kostello, CEO
John’s impact was immediate. The team at VMIX had created an exciting new social video sharing concept named Givit, and working with John, they defined key characteristics to attract and engage consumers in a manner that would dramatically improve ease-of-use in video highlighting and sharing.
“John’s knowledge of consumer behavior in the market was an enormous benefit to the effort. As a result, we produced an application both fun and vital to the daily life of targeted consumer sectors.” Greg Kostello
The promise of delivering a private-environment solution for highlighting and sharing selected features of a personal video received immediate attention from the market. Givit quickly attracted world leaders in PC and mobile-based operating systems and, following additional capital from ATA and other insiders, the Givit video-sharing solution quickly became selected as a key embedded application in multiple product launches by strategic industry leaders.