After several months of coding, 1028 SVN commits, and a couple of changes of direction based on early user feedback, we are excited to announce the launch of our first set of features!

Some of the things you can do on Omnisio today:

• Extract your favorite clips from videos hosted on Youtube and other video sites, and share these with your friends
• Create compilations of clips from multiple videos and embed these compilations in your blog or profile page
• Add in-video comments - make videos more fun to watch with your friends

We have a couple more exciting features on the verge of being deployed:

• Synchronize powerpoint slides with videos
• Tag people and interesting highlights in videos (to help people quickly navigate to the best parts)

What’s next? Fundamentally we have an architecture for quickly building rich applications based on video. We believe that online video is still very early in terms of innovation. What you see today on the web is largely replicating the experience of TV, just like the early days of TV replicated the experience of radio. It takes time for innovators to explore the capabilities of a new medium and create something truly unique. We believe this is about to happen with online video, and in fact we are going to help make it happen!

We have a lot of ideas about how to make online video better, but we are most excited about hearing from you. Please don’t hesitate to click on the feedback link in the top-right corner of our site. We’d love to hear what you think, good and bad, and hope that we can help make your online video experience dramatically better.