Announcing the new service by making fun of Google’s April Fool prank about YouTube closing down Hurley noted that the new site will be launching soon and that it was not joke. Hurley had announced his plans earlier in March at SXSW and had revealed at the time that the video site was going to take a month to launch officially.

The latest announcement from the YouTube co-founder came through Twitter. Hurley tweeted “Since @YouTube is ending, we’re launching a new video site… Welcome to ! @MixBitApp This time it’s not a contest!”

Hurley has created a landing page for the and notes “instead of sitting around, we thought you’d want a new site to not only watch cat videos, but create them…together!”

This probably means that the site is not going to be just another video sharing site but, it would probably be a platform that would allow users to collaborate and create videos.