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Youtube co-founder working on a new video content service

The concept of YouTube has certainly been imitated over the years. Despite persistent competition from Vimeo and DailyMotion, YouTube remains, after all these years, “the number one” in people’s minds as the online video-sharing service.

Today, YouTube cofounder Chad Hurley, who sold You Yube to Google in 2006, and who left the company in 2010,  is planning to launch a new video streaming service, that may be a potential competitor. This news was revealed over the weekend at at this year’s music and tech festival SXSW, which runs until March 17.

Hurley teased his new streaming site at a question-and-answer session with Digg founder and Google Ventures partner Kevin Rose at this year’s SXSW. “I wish [South by Southwest] was a month later because I could unveil the new product“, he said.

At first glance, it sounds like Hurley is trying to create something to rival YouTube, but he explained to Rose that wasn’t the case. He said over the weekend that “We’re not setting up to [kill YouTube] — now.” He instead wants to take the idea of YouTube and video sharingpair it with more collaboration features, instead of focusing on individual users controlling most of the content.

No further details have been revealed about the mystery project, including its name, launch date, or specific purpose. But now he’s about a month away from releasing his own product, which will be “primarily video-based” and give people the flexibility to “work together and create content.”

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