Yandex bought an application for video editing Hypee by 4spaces studio. Her team will move to the company, and the functionality of the service will be built into Yandex applications. The company needs a video editor to develop the format of short videos, which are growing in popularity, including among advertisers. According to experts, Yandex is somewhat late in entering the new format, but it will be able to compete with TikTok if it offers “something fundamentally new”.
In “Yandex” told Kommersant that they purchased the Hypee application, which allows you to add effects and music to videos. The development team from the 4spaces studio of Alexei Balchunas, a former employee of Yandex, will move to Yandex.Zen, and the Hypee functionality will be built into the Yandex application. Mr. Balchunas confirmed to Kommersant the sale of the project and the transfer to Yandex. The parties did not disclose the amount of the transaction. We are talking about at least 100 million rubles, says Dmitry Pankrushev, director for work with corporate clients at Redmadrobot.
“Kommersant” got acquainted with the description of Hypee (the application has already been removed from the AppStore). It allows you to add visual and sound effects to videos and is “perfect” for TikTok, Facebook, Instagram. Hypee made money on a paid subscription.
The purchase of Hypee is needed to develop the format of short vertical videos that will appear in a separate Yandex Zen feed. They will complement the formats of the platform and attract new authors, they are counting in the company. The Yandex.Zen video direction began to develop as a separate format in 2019.
The popularity of short video services in Russia, the largest of which is TikTok, is growing; in June 2020, such a format called “Clips” was launched by the social network “VKontakte”. A year later, she reported that users watch 300 million videos daily. Now, according to Mediascope, the monthly audience of VKontakte on all devices is 73 million, TikTok – 36.6 million people. Users spend 32 and 33 minutes in services. per day, respectively. Mediascope’s data on Yandex.Zen is limited to the desktop, the monthly audience is 28 million people, and the average time is 14 minutes. in a day. Yandex itself claims that Zen has 21 million unique users every day, who spend 45 minutes on it. in a day.
Experts consider it logical that Yandex.Zen wants to develop short videos. “They should become a new point of growth for the platform,” says Sergei Baryshnikov, co-founder of the communication agency Salo. Dmitry Chigirin, creative director of the Sol agency, notes that Yandex is somewhat late in entering the short video segment. “But the new format is likely to add more entertainment to a venue that specializes in more professional content,” he said. “On the one hand, Yandex’s step into this segment is belated, but if the format takes off, the company may well abandon other formats within Yandex Zen,” says Vasily Cherny, communications director at Brand Analytics.
Nowadays, advertisers are also interested in the short video format, and in TikTok in particular. “Budgets are growing at double-digit rates. And this is not just the effect of a low base, but due to the fact that the platform’s audience is growing, and mainly due to the audience of 25+, which is already interesting for most advertisers, ”explains Olga Petrova, CEO of the digital agency Traffic Isobar (part of Dentsu). Domestic platforms launching short videos have an advantage in attracting a more solvent audience, says Anna Kozyreva, head of social media marketing at OMD Content & Creation. But the prospects, according to the expert, depend on whether they can offer solutions and formats that differ from what Chinese social networks have.