Givit Gets $2.5M For Social Video App

San Diego-based Givit, which develops social video sharing applications and services, announced this morning that it has raised $2.5M in a funding round. The new round came from ATA Ventures and JK&B Capital. According to Givit, the funding comes along with a new, free app which allows users to create and share personal videos from the iPhone. The new app includes such features as live highlighting of critical moments in live events; support for combining multiple clips; no length restrictions; motion effects; cloud storage; and more. The new service also includes 5GB of free storage on Givit's online service. Givit is headed by Greg Kostello, and was formerly known as VMIX; the firm has recently recast itself into the video sharing area, having acquired Cisco's FlipShare users earlier in the year and launched Givit. The new app is direct competition for video sharing apps like Viddy and SocialCam. More information »