Steve Chen and Chad Hurley, the two original founders of YouTube and current team behind San Mateo-based incubator AVOS, are in the process of launching MixBit, a new social video clip service (h/t Gigaom).

The app lets users create their own sixteen-second video clips and share them with other users.

No need to start shouting “Vine!” or “Instagram!” just yet, as there’s a key differentiator: users can add to and remix videos made by other users, and create pastiche videos with lengths up to 1 hour.

screen568x568 horz 730x309 MixBit is a new video remix app from YouTube co founders Steve Chen and Chad Hurley

MixBit is available for iOS, having just landed in the App Store, and an Android version is expected to arrive soon.

We’ll have more information and photos from MixBit once we get a chance to spend some quality time with it.

Download MixBit for iOS

Top Image via Thinkstock

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