After the billion dollar Instagram buyout by Facebook, it seems like everyone wants to replicate the magical photo-sharing formula and get some face time with the social network’s 900 million users.
Viddy and Magisto are two such startups that have revved up their Facebook timeline efforts by making their video-based applications more social. The difference is the former has had a skyrocket launch that the latter hopes to achieve.
Let’s see what sets these little video editing startups apart and how they plan to get a slice of the Instagram pie.
I’m on the Viddy, Yo
Viddy is an awesome video editing startup that helps iPhone users capture, beautify and share videos with their social media world. When it launched its Facebook Timeline app, it saw an outrageous growth rate; we’re talking 300,000 users in 24-hours, bringing its grand user total to 5.5 million in 11 days. That was back in April. It’s still averaging well over 100,000 new users a day and is bringing in Hollywood clientele like Jay-Z, Shakira and Will Smith.
So what makes this sweet video-shooting app so sensationally successful in such a short time? Facebook could use a thank you or two.
When Viddy launched its Facebook Timeline app in February, it became fully integrated with the social network’s Open Graph platform (i.e. the way we now connect with both people and objects on FB), igniting its mobile and web efforts and exploding its global reach.
But, with success like this, competition (and copycats) are bound to follow.
The Magisto Touch
Now, calling Magisto a copycat is not fair. Viddy’s friendly video-editing rival is more like it. And, the Israel-based startup hopes to feel the same sweet success as Viddy with its Timeline app (which was launched at this year’s The Next Web Conference in Amsterdam); it hopes to turn your timeline into the “ultimate video scrapbook.”
The app plans to do this by organizing the video editing process on the web and iPhone, and it will also (cloud) store your edited videos making it easier for your friends to watch and enjoy.
Magisto’s CEO Oren Boiman believes the timeline will make personal video just as successful and social as photos started to be a few years ago. He’s also pleased with the success of other video-sharing apps like our little friendly rival Viddy, and he hopes for the same success with Magisto.
With $5.5 million in second-round funding, led by Hong Kong investor Li Ka-shing‘s Horizon Ventures back in September (following an undisclosed first round), it looks like Magisto may have the magic touch (and financial backing) to give Viddy a run for its money (lots and lots of money), and give the social media world another sweet video shooting-sharing-editing app option.
Maybe video will become the next photo phenomenon and Instagram’s $1 Billion payday will be old news. For now, it’s fun to watch the startup race to that beautifully photo-captured horizon.
