Autodesk Acquires Socialcam For $60 Million

Sites include autodesk.com , Socialcam.com . Published on August 5th, 2012. Written by Anthony West.

Mobile video sharing, that is one of the new paradigms and tech companies all over the ‘Valley’ are either starting their own apps, or busy buying companies that have apps already available.

This is the case with Socialcam, a mobile video sharing app that was launched around 18 months ago under the umbrella of Justin.tv. The app proved so successful that last year it broke away from Justin.tv and became a bona fide start-up under its own steam. The breakaway was spearheaded by CEO Mike Seibel who along with a few employees built up a huge following for the app.

All that hard work seems to have paid off because Socialcam has just been acquired by Autodesk. Now, you might be wondering what a company that specializes in design, 3-D rendering and engineering software wants with a mobile video sharing app; if that’s the case then look no further than my opening sentence. Video sharing on the go is big business!

The acquisition is random for sure but it will allow Autodesk to enter a space that is highly competitive and lucrative. The $60 million spent to buy Socialcam will no doubt see some returns within the next few years as Socialcam is still a very young company and is yet to reach its full potential.

Do you video share much? Share your favorite app for doing so in the comments below.