The $60 M acquisition of Socialcam by Autodesk announcement surprised me a bit. I’ve never been a fan of Socialcam and always felt that, although it became very popular very quickly, users would soon realize it’s most obvious shortcomings and just as quickly remove it from their app arsenal.
To me, it was an app that didn’t really add much value and seemed like more of a spam machine than anything. The fact that it would publish the videos you viewed to your timeline creeped me out. We all watch videos on our mobile devices and one video often leads to another and then to another…and before you know it, you end up seeing something that you normally would NOT seek out.
Either it’s just something super-stupid, it’s controversial or it’s risque. Whatever the case, it’s not your business and not something you want documented on your timeline.
So, the fact that this company sold for $60 M is a bit of a shocker. So many great apps out there that have all the characteristics and traits of being able to stand the test of time, just not the millions of users Socialcam has. More power to them…I just hope Autodesk knows what it’s doing.
Autodesk announced today that it signed a definitive agreement to acquire Socialcam for approximately $60 million. The transaction is expected to close by October 31 this year and is subject to customary closing conditions.
Socialcam is a Facebook and mobile app that allows users to create, edit and share videos. It is currently the largest Facebook-connected app with 54,700,000 MAU according to AppData. It also ranks No. 38 on AppData’s Top Free Apps on iOS and No. 5 on Top Free Apps Photography Genre in the U.S. The app saw a sharp rise in traffic in mid-April due to its viral sharing mechanics and requirement that users authorize it in order to watch a video, though some critics pointed out traffic was also being drawn in with popular YouTube videos marketed as user-generated content in a Socialcam wrapper.
Autodesk is known for its design software such as Maya, SketchBook and Pixlr.
This acquisition follows Facebook’s pending acquisition of Instagram for $1 Billion in early April and a heightened interest in startups and apps that allow users to create and share video and images on mobile devices. TechCrunch also reported in late April that Socialcam raised a round of seed funding from several well known investors such as Ashton Kutcher, Tim Draper and Yuri Milner.