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July 17, 2012 04:30 pm GMT
There's been a race on over the last year among mobile video sharing apps, many of which have sought to replicate the same type of success that Instagram had with photo sharing. We've seen a number of startups -- like Socialcam, Viddy, and Klip -- trying to attract new users by providing a platform for shooting interesting videos and then sharing them out to other social networks. Well, it's not the same billion dollars that Facebook paid for Instagram, but Socialcam is one of the first to see an exit, as the app and team were just acquired by software company Autodesk for $60 million.By all accounts, Socialcam is one of the leaders in the nascent mobile video sharing category, it's growing fast, and with just four employees, it was operating pretty efficiently. So why sell out now, with a huge market opportunity ahead?
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/qzormqy-OxE/
Mobile Video Sharing App Socialcam Acquired By Autodesk For $60 Million
There's been a race on over the last year among mobile video sharing apps, many of which have sought to replicate the same type of success that Instagram had with photo sharing. We've seen a number of startups -- like Socialcam, Viddy, and Klip -- trying to attract new users by providing a platform for shooting interesting videos and then sharing them out to other social networks. Well, it's not the same billion dollars that Facebook paid for Instagram, but Socialcam is one of the first to see an exit, as the app and team were just acquired by software company Autodesk for $60 million.By all accounts, Socialcam is one of the leaders in the nascent mobile video sharing category, it's growing fast, and with just four employees, it was operating pretty efficiently. So why sell out now, with a huge market opportunity ahead?Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/qzormqy-OxE/
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