A new social networking website is on the scene.

But this time it's one that has the ability for live video-broadcasting to an audience as big as you want.

It combines the social element of Facebook, broadcast element of YouTube and the live one-to-one contact of Skype, say its creators.

And it will soon test investor appetite for risk-taking by seeking cash from those who want to take part in its sharemarket listing.


Kondoot is the brainchild of two University of Queensland graduates who saw a gap in the social networking market.

Conceived two years ago when co-founders Mark Cracknell and Nathan Hoad were studying information technology, Kondoot is about to go public with more than 80 million shares offered in a bid to raise A$10 million.

Cracknell, also the company's executive director, says the website has the potential to surpass Facebook and YouTube in the popularity stakes.

Hoad and Cracknell wanted to create a single platform, instead of having to go to one site for videos, another to chat to friends and another to share content. The latest feature, which the two say is unique to Kondoot, is the broadcasting system.

Video calls are built into the browser but users can also conduct large-scale broadcasting, which is where Cracknell says the product offers something new.

"Rather than just doing a one-to-one call you can sit back and broadcast to 100,000," Cracknell said.

Subscribers will be able to create broadcasts that can be beamed around the world.