Autodesk acquires Socialcam video sharing app for US$60m
Socialcam, an app that lets users share video across social networks like Twitter and Facebook, has been acquired by US design software giant Autodesk for an estimated US$60m.
The Socialcam app has been one of the most popular mobile video apps in the iOS App Store and Android marketplace with more than 16m downloads since it was first launched in 2011.
Similar to Viddy, Socialcam is a smartphone application and web-based service that makes it easy to capture, edit and share videos.
“Mobile computing, the cloud and social media are improving and changing the way people design, engineer and create projects," said Samir Hanna, vice-president, Autodesk Consumer Group.
“Video is an ideal medium for professionals and consumers alike to communicate and share their design ideas. We are excited to have Socialcam join our growing portfolio of applications, services and communities for digital art, personal design and fabrication, home design and entertainment,” Hanna said.
Autodesk says it will prioritise support for the existing Socialcam community, while investing in scaling the platform and developing a more comprehensive set of tools for Socialcam users.
Autodesk also plans to use the Socialcam platform to help make its Academy Award-winning technology for professional film and video creators more accessible to a broader audience.
“Socialcam shares Autodesk's mission of helping everybody imagine, design and create a better world," said Michael Seibel, founder and CEO, Socialcam.
“Autodesk has a proven track record of acquiring and scaling fast-growing, early stage consumer businesses while staying true to their core audience and vision. With products like Pixlr, SketchBook and 123D, Autodesk is empowering creativity in millions around the world by making their award-winning technology accessible to everybody. We're excited to join them and introduce this global community to simple video creation, editing and sharing,” Seibel said.
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