Autodesk Acquires Socialcam For $60 Million
Autodesk has agreed to buy Socialcam for $60 million. Socialcam is a mobile application where users can author videos and publish them to social networks. Autodesk now has online consumer software that include drawing and painting, video sharing, and 3D design/photography. Autodesk has been known for designing CAD software for a long time, but in recent years they have decided to focus on a broad type of consumer.
Autodesk recently acquired Instructables for $30 million, which is a how-to website where people create videos on how to do things. They also acquired Pixlr, which is an online photo editor. Autodesk recently created consumer software for drawing and painting online, known as SketchBook.
“There is no limit to how much people want to show off their work,” stated Autodesk CEO Carl Bass. “We’re trying to tap into a vein of human creativity.” Autodesk will be investing more in cloud computing infrastructure.
Socialcam is a four-person company that was started in March 2011 after spinning out of Justin.tv. About 13 million out of the 16 million Socialcam downloads across the iOS App Store and Android marketplace happened in the last 3 months because of aggressive promotion on Facebook. Socialcam is used by music artists, sports teams, and corporate users. Socialcam currently does not have much revenue though.
Autodesk software is known for having a wide range of prices. For example, a new version of their 3-D design software can cost as high as $7,300. SketchBook sells for $60 and Autodesk’s mobile consumer software can range for between free to $5. Socialcam will be run as a separate entity.
The value of Socialcam is that it can attract a massive amount of creators for people to share and produce their designs. “In less than two years, we got 75 million people using our consumer 3-D software,” said Bass. In regards to professional software, Bass said “it took us 35 years to reach 12 million customers.”