There's no shortage video apps for every mobile platform, but popular ones like YouTube Capture, Montaj, and a host of others, not to mention Vine and Instagram, are single-user apps. Cameo more closely resembles MixBit, which features more collaborative filmmaking.
Cameo is free, as is the storage space where your videos reside. You can share your masterpiece on Facebook, Twitter, Tumblr, and via email for a link that you can embed in your blog. You can make new friends, follow other users, and favorite and comment on other Cameos.
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