The Socialcam app launched about 18 months ago , then as part of live streaming startup Justin. Then, last August, it spun out from the larger organization , taking CEO Mike Seibel with it and operating as an independent startup with just a handful of employees. Over the past year, the lean team has continued to iterate on the product, first adding Instagam-like filters , and later giving users the ability to add themes and soundtracks to their videos. Despite fast growth, Socialcam entered the Y Combinator startup accelerator earlier this year. So why sell out now, with a huge market opportunity ahead? Well, to hear Seibel tell it, the acquisition will ultimately will provide more freedom and flexibility to go after mobile video users.
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