University of Minnesota spinout Flipgrid has been acquired by Microsoft for an undisclosed sum, three years after raising $17m.
Flipgrid, a US-based video-sharing app developer spun out from University of Minnesota, was acquired by software developer Microsoft yesterday for an undisclosed amount.
Founded in 2014 as Vidku, Flipgrid has developed an app that enables teachers and students to create online communities around their classroom and social groups. Members can share short videos, generate video yearbooks and help each other study.
The spinout was founded by Charles Miller, associate professor of learning technologies at University of Minnesota. The platform has grown to more than 20 million users across 180 countries.
Flipgrid’s premium offering will be free following the acquisition and will provide pro-rated refunds to those that had purchased an upgrade. All members of staff will remain with the business, which will retain its base in Minneapolis.
Flipgrid raised $17m in 2015 led by Arthur Ventures, with participation from several dozen angel investors.
Eran Megiddo, corporate vice-president at Microsoft, said: “We are thrilled to see the impact Flipgrid has had in social learning thus far and look forward to helping them continue to thrive as part of the Microsoft family.
“We are diligently committed to making sure their platform and products continue to work across the Microsoft, Google and partner ecosystems to benefit students and teachers everywhere.”
