360-degree camera company Giroptic made a name for itself back in 2017 thanks to its partnership with Facebook, seeing all F8 attendees given a Giroptic IO camera – 4000 in total. Today, immersive real estate tour specialist OpenFrame has announced the acquisition of Giroptic.
OpenFrame was founded only this year, with aim of making purchasing a new home easier by enabling real estate agents to capture, edit and share 360-degree video tours with their clients. To aid in this process OpenFrame purchased Giroptic because of its technology and R&D pipeline of features thus allowing OpenFrame to offer a simple solution to OpenFrame’s subscribers.
“Since launching earlier in 2018, we’ve seen increasing demand and needed to secure our supply of cameras to match the rapid growth we’re experiencing,” said Aymeric Vigneras, OpenFrame’s CEO in a statement. “Our acquisition of Giroptic fits well within our broader strategy and brings us one step closer to accomplishing our goal of becoming the video standard in real estate for all listings.”
“We believe that through our innovative approach we will be able to drive mass adoptionof video toursacross the real estate industry–from luxury properties to inexpensive short-term rentals. Acquiring the IP of Giroptic, our former supplier, was a strategic imperative to offer our customers the easiest, simplest and fastest way to create virtual video toursat an affordable price,” adds Etienne Leroy, Chief Product Officer at OpenFrame.
The acquisition will help OpenFrame increase its release of new features for its app including 3D renderings. The software is compatible with iPhone and works by connecting the camera to the smartphone to take one image per room. The OpenFrame app then converts each of the 360°photos into 23 seconds of video. Room labels can then be added prior to the video being distributed via Facebook, MLS, email or text directly from the app.