YouTube co-founder Chad Hurley has revealed more details regarding the new video sharing project he teased at South by Southwest last month.

Hurley posted on Twitter to announce MixBit.com, where the holding page proclaimed "the future of video is coming soon," and invited interested parties to sign up for updates.

Referencing YouTube's 'we're shutting down' April Fools' prank Hurley wrote: "Since @YouTube is ending, we're launching a new video site... Welcome to MixBit.com! @MixBit This time it's not a contest!"

During a panel discussion at SXSW Hurley said the then-unannounced site would focus on video collaboration, but wouldn't be a competitor to YouTube.

Cloud-based editing?

He told attendees that the event would be "primarily video based and give flexibility for people to work together and create content."

Cloud-based editing, anyone?

At the time Hurley, who sold YouTube to Google in 2006 and stayed on as CEO until 2010, claimed the site would be ready for action in April, so we can probably expect more exposition in the coming days and weeks.

Via The Next Web