Autodesk Buys Mobile Video Shooting Star Socialcam for $60M

Socialcam, the quick-growing mobile video start-up, has quickly found a buyer.
Autodesk, known for its CAD visual effects software, has agreed to buy Socialcam, in a deal worth approximately $60 million, both companies said. They said they expect the deal to close within 30 days.

Socialcam — which had only moved out of shared office space into its own headquarters in San Francisco’s SOMA neighborhood within the past two weeks (it’s in Voxer’s old office) — plans to continue to operate its product mostly independently, now with the backing of Autodesk as a corporate parent.

Socialcam is the No. 1 application on Facebook, with 3.7 million daily active users and 56 million monthly active users, according to AppData. However, those numbers are currently trending downward.

The company has a remarkably small staff — just four employees, backed by the massive scaling capabilities of Amazon Web Services.

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Source: allthingsd.com

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