Socialcam, currently the most popular app on Facebook, has been sold to Autodesk for $60 million. The acquisition is intended to help Autodesk move into cloud-based content creation.
Autodesk is “a firm known best for designing professional software for architects and designers,” reports The Verge.
The post suggests the deal is a good fit for Autodesk, a company with “lots of revenue from its business clients, but is eager to expand its user base to the average consumer and evolve from the desktop to mobile.”
After initial rapid growth, Socialcam has slowed and so has its revenue. The app, which acts like an Instagram for video, could benefit from this infusion from Autodesk.
“Socialcam is still the number one app on Facebook, but has seen its monthly active user base shrink from a peak of around 80 million to about 54 million over the last month,” notes The Verge.
The key now will be getting Socialcam’s many young users to try out some of the company’s pay services in 3D modeling, photo editing, painting and drawing.
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