VideoVerse’s reported $250 million acquisition by Minute Media has unraveled less than a year after it was announced, with investors and creditors pursuing multiple legal claims involving former CEO Vinayak Shrivastav. Minute Media said in May that it was terminating its engagement with VideoVerse after discovering what it described as significant discrepancies in the company’s representations.
Minute Media originally announced the acquisition in September 2025, describing VideoVerse as an addition to its sports technology business. At the time, the companies did not publicly disclose the purchase price, although reports placed the transaction at roughly $200 million to $250 million.
Minute Media has since stressed that the businesses remained separate legal entities after the transaction closed. A company representative told TechCrunch that it ended the relationship after discovering discrepancies in VideoVerse’s representations.
Investors and Creditors Pursue Legal Claims
Bluestone Equity Partners, which invested in VideoVerse before the acquisition and announced its exit in September, is now suing VideoVerse for fraud. The firm alleges that VideoVerse violated investment terms and failed to distribute proceeds from the Minute Media transaction.
A separate creditor is seeking about $64 million connected to financing Shrivastav obtained shortly after the acquisition closed. Court filings cited by TechCrunch allege that fraudulent merger documents were used to persuade VideoVerse shareholders to approve the transaction.
Lingotto reportedly agreed to provide a $55 million structured loan in October, transferring $53 million to an account controlled by Clippings, VideoVerse’s legal entity. Lingotto now alleges that documents supporting the financing were forged, including a purported signature from Minute Media’s CEO and screenshots showing bank balances.
A $4 million repayment due on March 31 was not made, according to the filing. Shrivastav was no longer CEO by the end of April, while Minute Media, Lingotto and Bluestone subsequently pursued overlapping claims in Delaware Chancery Court.
Former Executive Also Alleges Forged Signatures
Former VideoVerse chief operating officer Sabya Das has filed a separate claim alleging that Shrivastav forged his signature on loan and share-repurchase agreements. The complaint alleges that tens of millions of dollars were removed from the company following the Minute Media transaction.
Shrivastav did not respond to multiple requests for comment from TechCrunch. His most recent address listed in Das’ complaint is on Palm Jumeirah in Dubai.
VideoVerse built its business around Magnifi, an AI platform that identifies important moments in long-form video and produces shorter clips. Its customers have included the Indian Premier League, FIFA+ and Nippon TV, while Minute Media had planned to expand the technology further into international sports markets.
Featured image credits: Magnific.com
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