Best Buy Launches Online Video Sharing Service, Takes Equity Stake In Mydeo

Today, Best buy announced the launch of their new fee based solution for consumers to store and share videos on the web. The solution is powered by Mydeo, a UK based company that has been offering online tools for the sharing of user-generated content for a few years. Best Buy has also taken a minority, equity stake in Mydeo, the terms of which were not disclosed.

Plans for the new Best Buy service start at about $7 a month and include 100 minutes of video hosting and video lengths up to 30 minutes each. The service will be merchandised online and in Best Buy’s retail stores and is already live on the web at: bestbuy.mydeo.com