Best Buy Stakes in Social Video Site

US Retailer Best Buy said Tuesday that it would launch an online service where its customers could store and share home movies and videos on the Internet through a partnership with Mydeo.

Best Buy also takes a minority stake in the company, and it is making the move due to rising demand for such services. The service is branded with the retailer's name and offers various plans depending on the user's need.

The cheapest plan retails for $6.97 per month and allows up to 100 minutes of video hosting and a 30-minute time limit on the lengths of any one video, and 5,000 views of videos. Higher plans give the user more storage time and the capability to upload longer videos.

The largest plan aimed more at businesses gives 5000 minutes of video hosting, 90 minute video lengths, and up to 100,000 views. That plan retails for $148.00 per month.

Out of demands for services with more privacy and no ads, consumers can choose who can view their videos, and no ads appear on pages where the videos are streamed.

"Many customers, particularly families with children, don't want their personal memories available for anyone to see in the public domain nor do they want to share them in a cluttered environment that includes advertising," Best Buy vice president Kevin Winneroski said.

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