Photo: Screenshot of a SocialCam video
Instagram, with 35 million users in two years and a $1 billion exit to Facebook, is a tempting but difficult startup to replicate.A few are trying in the mobile video space; they’re finding some quick success.
Socialcam, dubbed “Instagram for video” by tech blogs, is an iPhone app created by entrepreneurs in the latest Y Combinator class. It’s rumoured to have more than 10 million users and it added 4 million users last weekend alone.
Viddy, which raised $6 million from investors like Twitter co-founder Biz Stone and singer Shakira, even has video filters and effects like Instagram. It’s being downloaded 500,000 times every day and has 10 million registered users. Viddy says it’s averaging over 100 million plus video views per month, and that number is doubling every month.
But whether users will take to videos like they took to pictures has yet to be seen.
“Viddy only speaks about sign-ups but never about engagement, which I’d assume is very low,” says a sceptical investor.
These startups need to find a way to keep their momentum if they’re going to survive. Instagram is also planning to release a video product in the upcoming months and now it has Facebook to back it up.