Lightricks


Lightricks, founded in January 2013, is a company that develops video and image editing mobile apps, known particularly for its selfie-editing app, Facetune.
Headquartered in Jerusalem, the firm has over 250 employees. As of 2019, its apps have been downloaded over 180 million times and have over 3 million paying subscribers.

History

The company was created in 2013 by 5 founders, Ph.D. students Zeev Farbman, Nir Pochter, Yaron Inger, Amit Goldstein, and former Supreme Court of Israel clerk Itai Tsiddon who were all studying at Hebrew University of Jerusalem. Lightricks began life as a bootstrapped company, and this was the subject of a case study from the Harvard Business School "Bootstrapping at Lightricks".
The company received in 2015 its first funding round of $10 million led by Viola Ventures. It received its second round of funding of $60 million in November 2018, led by Insight Venture Partners and with participation from Israeli VC company ClalTech. In July 2019, it secured $135 million in series C funding led by Goldman Sachs, with participation from Insight Partners and ClalTech; this was reported to imply a $1 billion valuation
Lightricks ended 2018 with over $50 million in revenue.

Operations

After beginning in the Hebrew University campus, the company outgrew its space a number of times. It remains based in Jerusalem, Israel, with R&D offices in London, Germany and New York City; it has a total of over 250 employees.
Once Apple Inc allowed it, Lightricks was one of the first app companies to offer subscriptions. Most of its apps are now published under a freemium model.

Products

Enlight Videoleap is a IOS mobile video editing app. designed to make professional video editing more accessible.
Enlight Videoleap was released in September 2017. It is available as a free version with a subscription for unlimited access. Videoleap has had over 1 million downloads.
It won the 2017 iPhone App of the Year.
The app allows adding audio files to video, adding sound effects, moving and trimming audio, adding songs, as well as editing the volume.
In November 2019, Videoleap joined TikTok SDK.
Well known video personality Zach King made a video with Videoleap.
Uses of the app increased during COVID-19 outbreak.
Videoleap allows the user to combine, overlay and edit videos. Editing options include keyframe animation, layers, chroma key, blending and masking as well as color adjustments. There is also the ability to edit every aspect of the audio.
It is a simple version of desktop editing software on a smartphone where one can manually position clips on a timeline, and add text and audio to form a story.
Videoleap has a 4.6/5 review on the App Store, 5/5 on AppSliced and 4/5 on Appgrooves.