Video clips can be re-ordered in the MixBit app's edit mode.
Clips can be mixed and matched and, although stored separately, are presented as a single video that can be shared with the MixBit community, Facebook, Twitter and by email.

Chad Hurley and Steve Chen, co-founders of YouTube, just launched a new video-sharing app called MixBit. The app launched early this morning so we haven't had a chance to take it for much of a spin but here's what we know so far.

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MixBit, which is iOS only for now (Android users should get their own version sometime soon), can record individual video clips up to 16 seconds. Yeah, we know ... Yawn, right?   

But, as its name implies, MixBit lets you mix up to 256 video clips (yours or others' in the not-yet-active (as of early this morning  MixBit community). Clips can be  combined, edited and re-ordered and a series of colored bars track how many clips have been added. Although each element of the video is stored separately, it is presented as a single stream, with a minimum length of 1 second to a maximum of one hour. Video creations can be shared with the MixBit community, directly to Facebook, Twitter or via email. 

The app requires iOS 6.0 or later and can be downloaded for free.