Did Autodesk Just Spend $60 Million On A Dying Fad?

Last month we interviewed Socialcam cofounder Michael Seibel.  Then, Socialcam was still in the middle of explosive growth. Its video app competitor, Viddy, was experiencing down traffic while Socialcam’s was still soaring at 8 million daily active users.

Today Autodesk has acquired the 18-month-old startup for $60 million. But AppData shows Socialcam’s traffic has plummeted by half in the past few weeks.

We’re speaking with Seibel this afternoon about the acquisition and we’ll ask what happened to the traffic.

But in the meantime, it looks like Autodesk either acquired Socialcam at a really good time and price, or it may have spent millions on a dying fad.

Here’s what Socialcam’s app traffic looks like:

*Note: Appdata only shows traffic for people who use the app via Facebook logins.

viddy socialcam appdata

Photo: Appdata

socialcam appdata

Photo: AppData

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In