YouTube co-founder to launch a new video service MixBit

YouTube co-founder to launch a new video service MixBitChad Hurley, the co-founder of YouTube, has launched a new website for video editing and publishing - Mixbit.

You will see the following when go to Mixbit.com: YouTube is shutting down. Instead of sitting around, we thought you'd want a new site to not only watch cat videos, but create them... together! Visitors of the resource can leave their email addresses to be notified when the resource is started.

It is not yet clear what Mixbit is devoted to. A few weeks ago, Hurley said that the purpose of his new project is not to kill YouTube, since there is always going to be a place for it, but to create a fundamentally new platform that is far better for working together.

Hurley, who worked as a designer at PayPal, founded YouTube in 2005. His partners were programmers Steve Chen and Jawed Karim. The project was sold to Google for $1.65B in the fall of 2006 (partly because of allegations of copyright infringement). Hurley left the company four years later to focus on men's wear design.