Digital media company Mic.com has acquired Hyper, a Germany-based video aggregation app developer backed by entertainment studio Broadway Video, for an undisclosed amount, the Wall Street Journal reported yesterday.
Founded in August 2015, Hyper aggregates online video content into a daily, curated magazine-like app available for iPad users. Each edition typically contains six to 12 videos from large media companies such as CNN or Vice.
Mic, the operator of an online media platform that received more than 19 million unique visitors in January this year, made the acquisition to beef up its own mobile video offering, while its experience and larger audience could help Hyper develop its advertising.
Chris Altchek, Mic’s co-founder and CEO, told the WSJ: “We want to build a new way to consume video on your phone.
“This offers a 10 times better experience than is available today. Every generation has their media brands and we want to be one of them.”
Hyper’s only external funding had been a $1.1m seed round in August that was led by Advancit Capital. The round also included Broadway’s corporate venturing unit, Broadway Video Ventures, as well as Lowercase Capital, Freeland Ventures and Mesa Ventures.