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Dreamit Alumni Company Fly Labs Acquired by Google

NEW YORK, Nov. 12, 2015 (GLOBE NEWSWIRE) -- Leading global start up accelerator Dreamit today announced that Dreamit alumni Fly Labs was acquired by Google and will become part of the Google Photos team.

Fly Labs is a New York City-based start up that created popular video editing apps Clips, Fly, Tempo, and Crop on the Fly, all aimed at helping people make the most of their photos and video. In the past 18 months, Fly Labs apps have been downloaded more than 3 million times in over 150 different countries, and more than 20 million videos have been created with apps made by Fly Labs.

Fly Labs participated in Dreamit's accelerator program in New York City in 2012. In addition to a seed investment and office space, Fly Labs received mentorship from experienced entrepreneurs and investors, met potential customers and gained access to resources critical for starting a business, including legal and financial advice.

"Dreamit is all about making connections that drive business velocity," said Dreamit CEO Avi Savar. "We're extremely proud of Tim and the Fly Labs team, and thrilled to see them take their technology to Google Photos, which is not just a great company but a great fit overall."

Founded in 2008 by established entrepreneurs, Dreamit is a network dedicated to progress, differentiated by its emphasis on demand-driven innovation and focus on customers. Dreamit recently relaunched its accelerator program to further emphasize industry track immersion and appeal to a broader range of entrepreneurs with a flexible offer. Dreamit Health, Dreamit EdTech, and Dreamit Overdrive, designed for later stage companies, are currently accepting applications.

About Dreamit

Ranked one of the top 10 business accelerators in the world by Forbes, the Dreamit network focuses on bringing the right people together to drive progressive innovation and real business velocity. Dreamit has launched over 215 start ups that have gone on to raise in excess of $275M and are collectively worth in excess of $1B including LevelUp, SeatGeek, BioBots, Adaptly, Meerkat, and more.

CONTACT: Media Contact Kekst and Company Charlotte Stone | Lyndsey Estin 212-521-4800 charlotte.stone@kekst.com | lyndsey.estin@kekst.com

Source: Dreamit