Hallmark acquires Los Angeles based online video start-up

MUMBAI: Hallmark Cards has announced the acquisition of SpiritClips, a broadband subscription-based online video service and film production company that offers short films, family friendly movies and documentaries.

The terms of the acquisition have not been released since both SpiritClips and Hallmark are privately held.

Based in Los Angeles, this start-up business was founded in 2007 by Rob Fried, an Academy-award winning producer and studio executive, whose many films include Rudy and Hoosiers. Fried will continue in his current capacity as SpiritClips CEO, and the firm will remain in California.

In making the announcement, Hallmark president and CEO Donald J. Hall, Jr. noted that the acquisition offers Hallmark a new way to engage consumers in the digital world and a potential new channel of distribution for the brand. SpiritClips focuses on delivering powerful messages about character, hope and triumph of the human spirit.

"It is a superb brand fit for Hallmark, with each story delivering compelling emotional content, positive family values and meaningful life lessons," he said. The site has featured content from Hallmark Hall of Fame to subscribers since 2010.

According to Fried, "It‘s a dream come true for SpiritClips to be part of the digital future of so esteemed an organization as Hallmark. We are gratified that Rob‘s vision has led to such a positive result," said Michael Jahrmarkt, managing member of Northlight Financial LLC, which provided initial financing for SpiritClips."