Viddy, a social mobile app for sharing bite-size videos, is reportedly planning to raise $30 million, putting the company's valuation between $350 million and $370 million. Yes, you read those amounts correctly. Viddy is to video what Instagram is to photos (and we all know how much investors are willing to pay for that kind of application). About a year ago, Viddy raised $2.2 million of seed funding from Battery Ventures, Bessemer Ventures, Qualcomm and Greycroft Ventures. Then, in February, it secured $6 million in Series A funding from those same VCs, along with angel assistance from celebrities—among them, Shakira—and tech influencers including Biz Stone. Viddy has features like visual effects and audio to refine short mobile clips into polished snippets. Then, like Instagram, Viddy users share their final creations through Facebook, Twitter and YouTube.