Website builder Wix buys Israeli startup to ramp up GenAI video creation tools
Tel Aviv-based Hour One, set up in 2019, is a developer of software that turns text-based content into videos with computer-generated characters based on real people
Sharon Wrobel is a tech reporter for The Times of Israel
Wix, an Israeli firm that has developed a do-it-yourself platform to build and run websites, said Friday it is acquiring Tel Aviv-based startup Hour One, to bolster its web creator and content offerings with generative AI-based video production tools.
Financial details of the deal were not disclosed.
The Wix eCommerce platform provides online stores, service providers, restaurants and event organizers with DIY tools to create, manage and grow their business online. Using Wix’s website building software platform, merchants can sell through multiple sales channels including web and mobile storefronts, social media, online marketplaces and physical retail locations, as well as manage and track inventory, orders, and do payment and brand marketing.
“This move reinforces Wix’s position as a leader in the new era of generative AI and fuels our vision to make web creation smarter, faster, and more immersive,” said Wix COO Ronny Elkayam. “By bringing these capabilities in-house, we can maintain higher quality and control over rapidly evolving front-end technologies, reduce reliance on third-party providers, and better manage costs.”
Founded in 2019, Hour One develops AI-based text-to-video technology, which allows users to effortlessly create video content in minutes “without needing a PhD in computer science.”
The DIY platform harnesses generative AI to produce videos with lifelike avatars or virtual human characters based on real people, featuring natural movements to create personalized, interactive content that carries a narrative.
To date, the Tel Aviv-based startup has raised $25 million in capital from investors, including New York-based private equity and venture capital firm Insight Partners, according to the database of Start-Up Nation Central. Among its customers are Novartis, Intuit, T-Mobile, Johnson & Johnson, and Hewlett-Packard.
Following the acquisition, Hour One founders Oren Aharon, Lior Hakim and Arnon Kahani, as well as the startup’s employees, will join Wix at their Tel Aviv headquarters.
Founded in 2006, Wix is one of Israel’s flagship tech firms and is listed on the Nasdaq with a market cap of more than $8.6 billion. The firm employs about 5,300 people and has about 288 million registered users.
The Times of Israel Community.