VideoVerse's $250M Minute Media deal unravels amid fraud allegations

VideoVerse, an Indian startup known for its AI-powered clipping tool Magnifi, announced a $250 million acquisition by Minute Media in September 2025. The deal was seen as a major win for India's startup ecosystem. But less than a year later, Minute Media terminated the contract, citing "significant discrepancies" in VideoVerse's representations. Founder Vinayak Shrivastav is now at the center of multiple legal cases, with investors still waiting for their share of the windfall. The two companies continued operating as separate legal entities, suggesting the acquisition was never fully integrated.

The allegations paint a picture of serial untruthfulness. Bluestone Capital, which backed VideoVerse in 2023, is suing for fraud. A separate creditor seeks to recover $64 million from a loan Shrivastav took out shortly after the acquisition closed. VideoVerse's COO claims Shrivastav forged his signature on loan and share-repurchase agreements to extract tens of millions of dollars. Even more striking, Lingotto provided a $55 million structured loan in October 2025 based on forged documents—including fake signatures from Minute Media's CEO and fabricated bank balance screenshots. Missing money is now at the center of competing claims. VideoVerse's Magnifi tool, which automates sports highlight clips, had attracted clients like the Indian Premier League, FIFA+, and Nippon TV, making the collapse both a financial and reputational shock across the AI and sports media industries.