India, Sept. 9 -- Binny Bansal-backed SaaS startup VideoVerse has been acquired by US-based digital media publisher Minute Media for an undisclosed amount. While the size of the acquisition wasn't revealed, the cofounder and CEO Vinayak Shrivastav told Inc42 that the deal was "one of the largest SaaS acquisitions in the Indian startup ecosystem".

Structured as a cash and stock transaction, the deal marks a complete exit for VideoVerse's investors, including Flipkart cofounder Bansal, A91 Partners, and Bluestone Equity Partners. According to Shrivastav, angel investors saw 10-20X returns, while institutional backers clocked a 60-70% IRR from the deal.

Founded in 2016 by Shrivastav, Saket Dandotia, and Alok Patil, VideoVerse offers AI-pow...