From itunes.apple.com - February 27, 2012 2:43 AM

Klips are short videos that are fun to preview and quick to watch. With Klip you can capture and store videos of unlimited length on your device and enjoy unlimited uploads for free. Share videos on Klip, on Facebook, on Twitter, via email, via SMS or syndicate your video to YouTube. Klip also has the best, and most fully integrated, private video sharing experience on mobile.