Autodesk Acquire Socialcam for $60M

By Rory Lidstone July 17, 2012

It seems the last couple of months have been ideal for acquisitions, whether they involve patent portfolios or the outright purchasing of companies. Today marks yet another in the recent trend as 3D design firm Autodesk announced the purchase of Socialcam, the popular smartphone video app.

"Mobile computing, the cloud and social media are improving and changing the way people design, engineer and create projects," Samir Hanna, vice president of the Autodesk Consumer Group, said in a news release. "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."

The acquisition set Autodesk back $60 million, a far cry from the $1 billion Facebook spent on Instagram, the purchase that sent many companies searching for the "Instagram of video" – a description Socialcam fits very well.

Socialcam, which is an iPhone exclusive, essentially allows users to create, modify with filters and share videos quickly to Facebook, Twitter and YouTube or directly via e-mail or SMS.

The video app made headlines back in April when it attracted four million new users in one weekend, on the heels of becoming the top free app in the Apple App Store during a FreeAppADay promotion. Furthermore, the Washington Post announced that their video coverage of the Summer Olympic Games in London will be done entirely via 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,” said Michael Seibel, founder and CEO at Socialcam. “We're excited to join them and introduce this global community to simple video creation, editing and sharing."




Edited by Braden Becker

TechZone360 Contributing Writer

SHARE THIS ARTICLE
Related Articles

Google says Encryption Keys are in the Ignition

By: Peter Bernstein    7/31/2015

It has been such a wild few days in the cyber security area with all of the hacks, data breaches, exposures by security folks that all Android and wea…

Read More

Chattanooga Fiber Network Triple Play: Smart Grid, Gigabit, Green Energy

By: Doug Mohney    7/31/2015

Chattanooga is unique for a gigabit class network that covers the entire community, serving over 150,000 homes and businesses. Its advantages go far b…

Read More

Strategy Analytics: Shakeups Abound in the Tablet Market

By: Steve Anderson    7/31/2015

While the tablet market is something of a lesser phenomenon compared to the smartphone market, there's still quite a bit happening. A new report from …

Read More

Chattanooga: Much More than GigCity

By: Doug Mohney    7/31/2015

It is far too simple to say Chattanooga's high-speed fiber optic network is the cornerstone to the city's future growth. While city leaders and operat…

Read More

Taking a Look into Windows 10

By: Joe Rizzo    7/31/2015

On July 29, 2015 the long awaited release of Windows 10 arrived. You may have noticed that Microsoft went from version 8.1 to Windows 10, which is due…

Read More