Towards the end of the last decade, Flip handheld video cameras were all the rage, but by the time 2011 rolled around, the Flip brand was axed by Cisco as smartphone cameras started to shoot video in HD. The Flipshare software, on the other hand, has been revived today under the name Givit.

Givit gives users the ability to make quick and quirky edits to their smartphone videos by giving them the ability to add motion effects, transitions and music to their videos. Once a user has thrown a video together, he or she can save their masterpiece to the included 5GB of free cloud storage and share the video via YouTube, Facebook or email.

Users also have the option of upgrading to a larger storage plan if needed, but most should get by fine with 5GB.

While this application is pretty neat, it already has a ton of competition on the market. Applications like SocialCam, Viddy and Loopr offer most of the same features but execute them differently. The early reviews of Givit are pretty good, and it looks like it may have a chance of becoming, as TUAW puts it, the “Instagram of video.”

Givit is currently only compatible with the iPhone and iPod touch but can run in a scaled mode on the iPad. Givit is iPhone 5 and iOS 6 ready and can be downloaded via App Store for free.

Source: TUAW
Image Credit: Mastermaq