Robin Good: Loopster is a web-based free video editor which allows you to easily upload, edit, share and download your favorite video clips.

The service utilizes a traditional timeline and offers the option to edit individual clips by trimming their start and ending point, to add text captions and overlay titles, transitions, and audio effects and a soundtrack.

 

The final edited clip can be downloaded in .MPG format or shared directly on anyone of the major social networks.

 

The service is free to use.

 

FAQ: http://www.loopster.com/faqs/

 

More info: http://www.loopster.com/

 

(A big thank you to Giuseppe Mauriello who kindly discovered it and suggested it)

Via Robin Good