SocialCam sells to Autodesk for $60 million Dollars!
Firstly I am not a big user of SocialCam, but maybe that’s because the people in my network on the application are pretty bloody boring and have crap videos they are uploading. None the less SocialCam DOES have just under 55 million users and today they sold to Autodesk for a nice and tidy $60 million dollars – a deal which is expected to close in the latter part of the quarter.
So why would Autodesk be interested in them? Well they produce applications for the design space like Autodesk Sketch Book and see video as being an important tool and medium for those in the design space to communicate their designs etc. I have to say this is quite a clever idea and I would definitely much rather [as someone who deals with designers for various jobs regularly] like to sit down and see a video portfolio in front of an online portfolio, I feel it would make the experience more fun and entertaining, plus I would get a sense of their character from the music they used and the way the package it together.
However I must say that my poison when it comes to choosing an “Instagram” for video – I personally go with Viddy – yes I am bias as we have been familiar with them since the very beginning and have personal connections with the team. But I have recently started using it for Shoe String by adding a short blooper reel of all our Monday VDM’s, I think we are only in the early stages of discovering what we can actually use Viddy for beyond personal clips. They currently have 26 million members and growing and a host of big name celebrity users, and their latest valuation was around $200 million.
Given today’s events – I would not be surprised at all if we see something happen with facebook and Viddy in the not too distant future. I mean it makes sense, and the product is great and would fit right in to a great mobile strategy for them.
Congrats to SocialCam though – for a company that only started last year, $60million is a pay day I would be happy to take.