The company's round was led by New Enterprise Associates, and as one might expect, Google Ventures.
TechCrunch reckons that NEA's 14th fund may be the largest in venture capital history.
The app lets you edit and combine your clips with video clips from other users to create longer productions.
The venture-capital arm at Google previously invested up to $200 million a year in startups. Now, that figure will grow to $300 million, a managing partner tells Reuters.
Four months after announcing it was seeking a buyer, Yahoo-owned social-bookmarking service Delicious says it's been picked up by company started by YouTube co-founders Chad Hurley and Steve Chen.
Can Digg make a comeback under the leadership of the Betaworks team? Or is it a house whose foundation is permanently broken?
A teaser page on the Web suggests Chad Hurley and Steve Chen will soon launch a new service called "Zeen" -- designed to let users "discover and create beautiful magazines."
The social-bookmarking site that was facing possible closure at the hands of Yahoo is now poised to start its next chapter.
CNET breaks down most of what's happened to Yahoo since 2008, including layoffs and the failed takeover bid by Microsoft that could have taken the company in a completely different direction.