Autodesk Buys Socialcam for $60 Million

Autodesk has bought video sharing service Socialcam for $60 million.

The deal is expected to close in the third quarter, according to a statement from Autodesk.

Formed 18 months ago as a spinoff from Justin.tv, Socialcam has 54.7 million monthly active users, according to AppData. Meanwhile, competitor Viddy was reported to have 26 million users in early May and carry a valuation of $200 million. Both figures are long way from the $1 billion that Facebook paid for Instagram, the photo-sharing app.

SEE ALSO: Socialcam CEO: Dont Let Video Intimidate You

Autodesk is known for 3D design, engineering, and entertainment software. The company currently offers several mobile apps in…
Continue reading...

More About: Autodesk, instagram, socialcam, trending