It isn’t a stellar exit for 5min’s investors, who pumped just south of $13 million into the company, but not a terrible one either (a 4-5x return).
The acquisition will reportedly be announced Tuesday morning.
Launched back in 2007, the site was initially a portal for how-to videos, but eventually grew into a video syndication giant. That means 5min aggregates tens of thousands of instructional, knowledge and lifestyle videos across a wide variety of categories and dynamically distributes that content to partner websites such as Answers.com and DailyMotion.
Video content originates from small indie producers to big-name brands and media companies, and the topic ranges from recipes, yoga and fitness routines, tech tutorials, DIY projects for home and garden and health videos on specific conditions to beauty and fashion tips.
5min claims its Video Syndication Platform currently reaches over 160 million uniques per month.
The company boasts proprietary semantic technology dubbed VideoSeed, which helps it efficiently power its Syndication offering, helping bring its “Video Everywhere vision” to life across virtually any site. VideoSeed contextually matches the most relevant videos with a Syndication Partner site’s existing text content.
AOL at the time said it would harness StudioNow’s technology platform and network of more than 3,000 creatives to develop and produce professional videos at the request of AOL editors.