We’re just at the beginning of what probably will become, a mobile video sharing frenzy and the instant front runner is  the app that claims to be the ‘Instagram’ for video:  Viddy.  For a company who, according to co-founder Brett O’Brien, “haven’t spent a penny in advertising,” they’re not doing half bad, hitting the half million download mark with the social video sharing app in its first six weeks.  A faster growth rate than Twitter.

Video crowdsourcing is taking off big time: already, Ridley Scott has produced ‘A day in the life,’ a documentary merging the best bits of some of the eighty thousand videos submitted by Youtubers.  Now, emo-poppers Panic at the Disco are using Viddy itself to create their next music video.  Fans just use the free app to record their clips, tweet them with the hashtag #readytogo, then wait to see if theirs gets featured.

Viddy like to keep it simple.  Registration take less than a minute,  clips are limited to 15 seconds, usability is straightforward and options are marked with clever icons.

Before your recordings go live, you can trim, edit and fancy them up a bit with their ‘production pack’ of black & white, crystal, ‘junkd’ and even 3D (provided you’ve nicked a pair of shades from the local cinema). Unfortunately, the music choice is not so varied.  Ambient sounds will have to do.  Viddy will, however, mix your microphone recording with the music, producing a pretty good result.

Even the odd celebrity is trying their hand as a ‘Viddyographer.’ Charlie Sheen claims the app is “winning”…   no surprises there then.

So is Viddy the next big thing?  With the growth rate it has,  it’s difficult not to be impressed.  The app is attracting users and investors alike.  O’Brien confirming that $1.5M funding was raised through, Battery Ventures, Bessemer Ventures, Qualcomm  and other angel investors.

Although Viddy hasn’t stormed the UK yet,  with sharing options expanding soon to Foursquare and Tumblr, It’s sure to do, as Alex deLarge said “viddy well.”