Three young Australians who launced a web company six months ago have now sold their creation to Google for a reported $15 million.
Ryan Junee, Julian Frumar and Simon Ratner founded
Omnisio – described as "the world's first video rich application" on the company’s website – and have now hit the big time.
The program lets users cut up YouTube video clips and add their own audio or images to produce new videos.
Omnisio has now been purchased by online giant Google, which owns YouTube.
"We've been acquired by Google and will soon be joining the YouTube team, aligning us with the market leaders in online video," the trio said in a statement.
"Together we'll apply what we've learned about the space, and we'll work to develop innovative products and features for the YouTube community.
"We believe we've only scratched the surface in terms of what's possible with online video, and we are really looking forward to taking the video viewing – and creating – experience to the next level."
YouTube have confirmed the puchrase on its official blog.
"As you probably guessed, we’re big fans of anything that lets people interact with online video and gives the YouTube community the chance to express themselves in creative ways," YouTube said.
"It’s in this spirit that we’re thrilled to announce Google’s purchase of Omnisio, a small California-based startup that’s focused on making online video more useful and collaborative."
The deal was reportedly done for $US15 million ($15.8 million) in cash.