Socialcam grows into a large social video sharing event

If you have heard of the recent buyout of "Instagram" for photos, now we have a new and similar app rising. It is called "Socialcam" and has gotten the attention of those with some deep pockets. No less than 46 investors have put down some money to help this app grow. Socialcam has one of the largest lists of supporters that has been seen in a while. The total number of users of this app surged to 20 million users today. They had "just" 12 million last week.

The Socialcam app is called the "Instagram of video" thanks to its setup. If you wonder what it is, it is a mobile app that allows iPhone or Android smartphone users to capture, share and view those special moments that happen in life. The app takes the video from the smartphone as soon as it is finished and uploads it to a variety of places. The video can go to Facebook, Twitter, Youtube or can be sent via email. After it is uploaded it can be seen by tablets, computers and smartphones. Those videos that are already on the smartphone can also be uploaded as well. The videos can receive comments, can be classified as private or public and do not have a set limit on length. The app notifies contacts immediately after the video reaches its destination in the "cloud", the new mobile name for the internet.

The investors list is long and has a few familiar names. Andreessen Horowitz, Brian Chesky, Paul Graham, Paul Bucheit and four members of the Founders Den all have given their economic support behind the Socialcam video app. Justin.tv's founder, Justin Kan, put down his dollars for Socialcam. He also put down money for Socialcam's competitor. They are called "Viddy" and have close to the same amount of users as Socialcam. Viddy is valued at $350 to $370 million dollars so expect the same or a little more valuation for Socialcam. The web now appears to be an upcoming target for millions of new videos being uploaded. Instagram is expected to make their own video app as well, but the launch is late. By the time it is ready, Socialcam may have taken most of the users.