Preston tech firm targets £25m revenue as video animation service attracts 75,000 customers
A Preston-based tech firm is predicting that revenue will grow to £25m inside three years as more companies use video content.
Viddyoze is the world’s only 100% automated video animation service and already has 75,000 customers, including the likes of Tesla, Sony and PwC.
The company was founded in 2015 by David Chamberlain, Jamie Garside and Joey Xoto after the trio recognised that video content was only accessible to companies with big budgets.
Viddyoze’s technology allows people to create and use their own video animation in three simple clicks at a fraction of the cost.
The firm launched with 30 templates in September 2015 and generated over £380,000 revenue in four days.
Chamberlain, who started his career as a trainee accountant with Lancashire-based Moore & Smalley before deciding to become a entrepreneur, said: “The intention of the launch was to open the product, get some users and then stop further people buying it while we worked on the product with the existing user base and got our team of animators to increase the number of templates available.”
The company is predicting revenue will reach £10m this year and £25m by 2022.
“Video isn’t the next big thing,” said Chamberlain, “it is the thing. We wanted to make it simple and cheaper. We wanted to open up the opportunity for smaller companies to use video marketing.”
The idea for Viddyoze came out of a chance conversation Chamberlain and Garside had with Xoto when they were running a separate software business.
“Joey said he wanted to animate a logo without using Adobe After Effects,” recalled Chamberlain. “If you use Adobe you pay for it and you have to understand how to do it because it’s quite a technical thing. We wanted to simplify the whole process and that’s where the idea for Viddyoze came from.
“The problem we saw was that the videos were kept for the businesses that had the budget for them. A lot of firms didn’t think they could afford to make videos.”
Working out of their colourful new offices in Lancashire, Viddyoze offers more than 1,500 templates and employs 27 people all round the world. To date all their growth has been self-funded.
Early this year Chamberlain and his co-founders launched a second business called Klippyo.
“The idea for that came from the fact that our user base was taking a lot of our content and stringing together a lot of clips to create one complete video,” said Chamberlain.
“We decided to give them the option of doing that but with our product. We set about building a product that integrates with Viddyoze and could also take content from Shutterstock and other areas so the user can create their own video.”
When Klippyo launched it generated sales of £464,000 in four days with follow-on revenues of £46,000 a month.
“Just like Viddyoze, we only opened Klippyo up for four days so could carry on working with our user base and improve the product,” says Chamberlain.
Now both brands are ready for the next stage of their growth as they aim for revenue of £25m in the next three years.
Pictured top (from left): Jamie Garside, David Chamberlain and Joey Xoto