Video editing is the process of re-arranging or modifying segments of video to form another piece of video. The goals of video editing are the same as in film editing — the removal of unwanted footage, the isolation of desired footage, and the arrangement of footage in time to synthesize a new piece of footage.

The increased popularity of online video clips has produced a large increase in video editing activity by Internet users. The Internet has become an important source of free online video-editing tools.

Below is an “Incredible List of Online Video Editing Tools” for those who like to play around with videos .I also made another post “Advanced List of Video Editing Softwares.I hope you enjoy them.

BubblePly - Video annotating service where anyone can add text bubbles that are synchronized with video.

Cuts - Insert sound effects in your videos, add captions, loop the best parts and in minutes you can share your creation with the world.

Eyespot - add effects and transitions to the videos you upload, or use some of the large amount of free video clips and music from Eyespot’s media partners.

Fliptrack - Make a free musical photo slideshow and music video. It’s easy to do and you do it online.

JumpCut - a free service that enables you to upload, edit and share your videos. Offers keyframe-based editing, effects, transitions and actions.

MovieMasher - a combination of a video editor with a timeline and lots of various effects, a standalone player and a media browser.

MixerCast - Mix your media with professional video, images, music, and network your MixerCast everywhere.

MuveeMix - Upload your movie, mix it with music, add cool effects and share it on MySpace, Friendster, Blogger, and other networks.

Motionbox - This service features the ability to link to a very specific point or “segment” within the clip itself.

Mojiti - Select videos from popular video sharing sites, personalize them with your annotations and share them with others.

Photobucket - Edit videos within a browser using Flash and remix photos and home videos with other elements, such as music, video captions and transitions.

StashSpace - Upload, store and edit your videos online. You can also record videos directly from your camcorder or digital camera.

VideoEgg - A video editing platform that you can add to create a social network and offers opportunities for monetization.

Veotag - Service that lets you display clickable text, called “veotags,” within an audio or video file.

Vidavee Grafitti - add graphics and text into any video; the service is called a “legal form of artful vandalism” by the creators.

Vmix - Vmix is a community and a hosting provider for your videos, aimed at creative authors who want to create remixes of their music and videos.

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