SocialCam picks up 20 mn users, 46 investors [VENTURE CAPITAL]

Viddy has company. The mobile video company made headlines with its recent $30 mn capital raise, which values it at more than $350 mn. Now, its competitor is getting into the fray. SocialCam has picked up 46 angel investors, according to Business Insider, including Shakira and Biz Stone. Also on the list are Shane Battier of the Miami Heat and Ashton Kutcher's venture capital fund.

SocialCam now boasts more than 20 mn users and is the second-ranked free app in the App Store, shoving Viddy down to the third spot. Viddy has 15 mn users. Interestingly, SocialCam only had 12 mn as of last week.

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Source: Business Insider