Autodesk Buys Socialcam For $60 Million

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Video sharing app maker Socialcam is being bought by Autodesk, best known for its professional design software made for engineers, architects and designers. Autodesk is buying the four-member company for $60 million, the two announced today. Socialcam was started in March 2011, completed a stint in the Y Combinator program, and has been recently been growing legs thanks to YouTube and Facebook. 

In a young but competitive market, with peers like Viddy and Burst, Socialcam scored a recent success, being chosen by the Washington Post as its social video partner for the upcoming Summer Olympic Games in London. 

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