Wanting to reduce the average user’s barriers to producing high-quality videos, co-founders Sabba Keynejad and Tim Mamedov set out to create a next-generation video editing platform: Veed. To accomplish this goal, they focused on three main ideas:
- moving video editing directly into the browser
- adding AI tools to boost user efficiency and creativity
- creating an online platform for collaboration
By building their video editing platform natively in the browser and in the cloud, Keynedjad and Mamedov allowed their users to use AI technology like never before. The browser-based platform, for example, allowed Veed to feed all videos through a professional language-based model, like AssemblyAI, and generate a text transcript of exactly what was happening in the video.
“Once transcribed, all the video is is just a bunch of text and that's really exciting. It makes the video way more malleable. You can edit a video simply just by editing the text,” they explained.
Then, the co-founders could build powerful AI-based tools on top of this transcription data. One of these tools includes Magic Cut, which uses AssemblyAI’s industry-leading Universal-2 Speech-to-Text model to “slice up” the video based on the transcript and then create a perfect video based on this text. The key, of course, is a highly accurate transcript — any error in the transcription could cause the entire process to break down.
Magic Cut is an “incredibly powerful” tool for their users, they explain.
In addition, partnering with AssemblyAI allows their team to focus on what they’re best at instead: “building a collaborative, browser-based video editor and distributing that product at speed and at velocity to our user base.”
Veed recently surpassed $40 million in ARR.
Watch Veed’s full story here:
