Storyblocks is a rapidly growing provider of stock video footage founded by a first time entrepreneur. While the Company had developed a differentiated asset in its large library of digital video content, it was also at a transition point with a new subscription product, videoblocks.com, and a new strategy for the marketplace. The Company’s founder wanted an experienced partner to help scale the operation and supplement the management team and to drive growth. Updata believed the stock digital video market was poised to replicate the successes of stock photography providers. Updata also viewed the Company’s proprietary collection of digital video footage assembled over ten years as a defensible asset.
In March 2012, Updata invested in Storyblocks (then known as VideoBlocks), providing the Company’s first institutional capital, and offering partial liquidity to the founding CEO. Since investing, Updata has helped the founder add management team members, assisted in the creation of additional subscription offerings, and directly supported business development activities with large media companies.
Storyblocks is well on its way to establishing itself as the leading provider of stock video footage. The company boasts more than five million clips downloaded to date and is ranked on the Inc. 500 as the fourth-fastest-growing media company, with 1,600%+ revenue growth over the last three years.
“The Updata team possesses a rare combination of raw quantitative intelligence and true operational experience. This makes them an invaluable partner for us, because we can trust and rely on their advice for financial and managerial decisions. We are honored and excited to be working with Updata to scale our business to the next level.”
– Joel Holland, FounderPortfolio Page