JayCut, founded in 2007, is a Swedish online video editing startup offering free and simple video editing service.

You can upload unlimited amount of videos and photos in a wide variety of file formats to JayCut’s service, and then combine, mix, or trim different clips into one, and add captions and music. You can share the photos, raw video or the finished mixes with friends either using their service, downloading the file to your own computer, iPod, or other device, or sending the files to MySpace, Facebook, YouTube, or your blog. Public videos can also be rated and commented on on their web page. Downloading a file only seems to work in WMV format, and seems to sometimes require some waiting time to get converted before the download can be made. The online service might also be suitable for “open source” film projects like Stray Cinema where people share, re-edit, and mix the raw film footage.

According to some rumors the company has angel financing from London based investors. The business model could be based on including ads in the exported videos, which isn’t probably the best alternative, though. Interestingly the company has roots in student entrepreneurship, as they mention nearly all of the founders have been involved in the entrepreneurship association Excitera at the Royal Institute of Technology (KTH) in Stockholm.