Autodesk has signed a definitive agreement to acquire Socialcam for a purchase price of approximately $60 Million. Socialcam is a popular mobile social video capture, editing and sharing app and service that was launched in 2011.
According to Autodesk, video is an ideal medium for professionals and consumers alike to communicate and share their design ideas. Socialcam fits their growing portfolio of applications, services and communities for digital art, personal design and fabrication, home design and entertainment.
Socialcam is a smartphone application and web-based service that makes it easy to capture, edit and share videos. The Socialcam app has been one of the most popular mobile video apps in the iOS App Store and Android marketplace with over 16 million downloads since it was first launched in 2011. Autodesk will prioritize support for the existing Socialcam community, while investing in scaling the platform and developing a more comprehensive set of tools for Socialcam users. Autodesk also plans to use the Socialcam platform to help make its Academy Award-winning technology for professional film and video creators more accessible to a broader audience.