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Summary:

The video remix platform Mixbit isn’t shutting down, says YouTube co-founder Chad Hurley.

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YouTube co-founder Chad Hurley denied reports Tuesday that his video remix platform Mixbit is shutting down. Hurley took to Twitter to contradict a VentureBeat article that claimed MixBit was about to fold:

A Mixbit spokesperson repeated Hurley’s denial when contacted for this story, adding that “new features are coming soon.”

VentureBeat also reported that that Avos Systems, the company behind Mixbit, has laid off “nearly 80 percent of its employees” and shuttered its San Mateo, Calif. office. Asked about the reported layoffs, Hurley said:

I haven’t gotten a comment from Avos yet on how their headcount has actually been affected, and will update this story once I do.

Mixbit is a video platform that allows users to record and remix short video clips — kind of like Vine with a mashup functionality. The site launched in August of last year, but hasn’t seen a whole lot of traction with users. For instance, MixBit’s Android app, which launched four months ago, has seen less than 50,000 installs, according to Google Play.

Avos launched as a kind of product incubator in 2010, and made headlines when it acquired the social bookmarking site Delicious from Yahoo three years ago. Avos also briefly experimented with a digital magazine app, but shut it down late last year.