This Video app – Ptch, was launched, just a year ago, when Dreamworks CTO Ed Leonard, first conceptualized it. Ed Leonard has now left Dreamworks to become the startup's CEO. Co founders Hans Ku, who made the announcement regarding the acquisition, also worked with Dreamworks. There were nearly 20 employees in the organization, when it started out. Some of them were from the parent organization – Dreamworks and some were from Myspace and Yahoo.
The announcement on Ptch's blog, read as follows:
“We launched Ptch just over a year ago. Our passion and our mission was to give you the best way to make and share beautiful movies made from the photos and videos on your phone. Well, someone noticed!
Today, we’re excited to announce that Ptch will be joining Yahoo! As part of the Yahoo team, we’ll be able to focus our efforts and leverage our technology to make Yahoo’s photo and video platforms the best in the world.
As part of this transition, Ptch will shut down on January 2, 2014. Until then, you can download your ptches on ptch.com or save them to your camera roll from the Ptch app on your phone:
- On ptch.com, go to your profile page. Click on the title of the ptch and then click on the download button.
- In the Ptch app, go to your profile. Tap the share icon under the ptch and then tap “Save to Camera Roll.”
Thank you so much for being a Ptch user and fan. We are grateful for your support and look forward to bringing you more exciting products through the Yahoo platform in the future.
All the best,
Hans and the Ptch Team”
This video app allowed users to add music and various other effects to any video. They could also upload their original clips, so that other users could make further changes. The idea behind the creation of this app, was to enable friends and others to use various media and create a story.
It appears as if Yahoo is on an acquiring spree, as it aims at acquiring talent in the mobile app design domain. The acquisition of Ptch comes a year after, Yahoo announced that it had acquired SkyPhrase, which is a natural language processing start up.
At the moment, no word has been received on DWA investments, regarding the separate company that was a creation of DreamWorks and that which funded Ptch. The equity of Ptch is owned by employees, so there is a possibility, that it will go along with the acquisition and will eventually be dissolved.