updated 03:57 pm EDT, Mon March 11, 2013
Possible launch in next few months, not a YouTube competitor
One of the co-founders of YouTube is working on a new project that also uses video. Chad Hurley revealed he was working on something during a talk at SXSW, and though mentioning it would be used for content creation, opted not to offer any further details ahead of its launch, itself expected to be within the next few months.
The crowd was told by Hurley that the project is "primarily video-based... and gives flexibility for people to work together and create content," reports AdWeek, and is not going to be a direct competitor to YouTube. Hurley also noted that if SXSW took place one month later, he would have been able to launch it at the event.
Hurley, along with Steve Chen, allowed YouTube to be acquired by Google in 2006, at a price of $1.65 billion. Staying as YouTube chief executive until 2010 before stepping into an advisory role, Hurley and his other co-founder were last said to be working on a service to create "beautiful magazines." Zeen, revealed in April, appears to be a personalized news and article aggregator that allows individual Zeens to be shared through social networks.