Socialcam, a social video app for iPhone and Android that has been spreading like wildfire, has added a new feature, in attempts to keep hold of it’s 4 million new users garnered over the past weekend. Justin Kan, the co-founder of Justin.tv helped to develop Socialcam, which is a sort of Instagram for video, and investors are presently all over it. And the creators are scrambling to keep up:

Still, Socialcam’s 3-man team has been able to crank out updates, including one from yesterday adding the ability to instantly play videos that are in a users main feed when selected, instead of loading a new page to watch. This functionality streamlines the interface, making it more intuitive. Socialcam CEO Michael Siebel had recently stated, “We’re not just looking for distribution. We want the app to be better for everyone, to make sure that we take all the pain out of both making and watching videos – My goal is to make the process of taking and watching videos as easy as it is for photos.”

With Instagram going to Facebook for $1 billion, a sort of video version of the app is in high demand. While Viddy has been gaining a lot of users as of late, Socialcam’s apparent bump of 4 million within a couple of days blows the former out of the water. It will be interesting to see how video content advances in line with expanding 4G LTE network capabilities.

Hat tip to TechCrunch.