Mevo has been Acquired following our Investment.
Founder’s Story“While growing Livestream.com, we heard from thousands of customers that hardware was their biggest hurdle to live streaming events. That’s why we created Mevo. Customers wanted a simple, all-in-one solution for all skill levels to produce dynamic, high-quality live streams. We have built a strong customer base with our acclaimed camera, the Mevo Plus. Now we are building a new line of Mevo cameras that addresses our customers’ key requests: longer battery life, competitive price point and their number one request: multi-camera editing in the Mevo App.” — Max Haot, CEO & Founder of Mevo
Rich Canadian says …“Mevo’s recent round on WeFunder was a great opportunity. We took full advantage to snag some shares plus one of the Mevo cameras at a discount. For me, I am already heavily invested in streaming platforms and having an interest in Mevo, as a livestreaming equipment company that is changing the face of the technology seems like a good fit. With expectations to move more aggressively in the future into streaming more live events, we will definitely be putting Mevo through its paces. One of my fears is that this device company explodes in popularity the same way GoPro did, and then implodes when demand for product drops long-term. But, for the forseeable future, Mevo is attractive.” — RichCanadian, May 2020
Key Points“Mevo’s recent round on WeFunder was a great opportunity. We took full advantage to snag some shares plus one of the Mevo cameras at a discount.
- Due to COVID-19, Mevo’s sales have increased fivefold. People know this is going to be a long-term problem.
- Over 90,000 Mevo cameras have been sold across all channels including direct sales, Best Buy, B&H, Adorama, and Amazon.
- Vimeo Inc (yes, that Vimeo) is an investor.
- Mevo built its own software with live editing (cut, zoom, pans).
- Supports streaming to multiple platforms at once. Channels such as YouTube, Facebook Live, Twitter, Periscope, Twitch, LinkedIn, Vimeo, Livestream, and others.
- Founder has two exits, including selling Livestream.com to Vimeo (yes, again that Vimeo..)
“During the COVID crisis, demand for Mevo cameras has increased “tenfold,” according to Max Haot, the founder of the company who sold Mevo to IAC’s Vimeo in 2017, then bought it back in 2019.” – USA TodayMevo is expecting to double yearly and grow to 17% of all video consumption by 2020. Ambitious. From today (2020) that’s an expeted increase in livestreaming from just over 15 Exabytes per month to 60 Exabytes. Yes, that’s a lot of livestreaming. To reach their revenue projections and marketshare, they are expecting to sell a half million cameras per year and associated services. They are not just a hardware company, this is about software as well. The main competition? Phones. That go-with-you-everywhere device that everyone already owns. Sure, there’s a lot of value shooting with a phone especially since the resolution and battery life is pretty good (and you can fix that pesky shake with a gimbal). But, Mevo is the only one building a dedicated device specifically for live streaming.
- 2019 Actual Revenue was $5.9M
- 2020 Projected Revenue is $14.9M
- Raised over $4M since inception.
- Raised $3,274,790 during 2019.