The makers of Viddy, a once fast-growing app for recording and sharing short videos, sold their company today for a reported fraction of their former valuation. Fullscreen, which offers tools and advertising services to makers of YouTube videos, scooped up Viddy — which rebranded last year as Supernova — for around $15 million, according to Re/code. And while Viddy lives on in app stores, its dream of becoming videos answer to Instagram appears to be dead and buried. Investors included Twitter co-founder Biz Stone, Shakira, and Jay-Zs Roc Nation, and Viddy attracted celebrity users including Justin Bieber, Snoop Dogg, and T-Pain.
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