SpiritClips Acquired By Hallmark

Los Angeles-based SpiritClips, an online video service and short film producer, has been acquired by greeting cards firm Hallmark. Financial terms of the acquisition were not disclosed. SpiritClips offers up an online, subscription service which streams inspirational, "uplifting" films to users, including a digital greeting card component of the service which delivers positive and uplifting messages to recipients. The startup was founded by Rob Fried, who will remain as CEO of the ocmpany. Hallmark said the acquisition would help engage consumers in the digital world, and become a potential new channel of distribution.