Jay-Z and Will Smith have joined forces once again for a new business venture. The pair worked together back in 2009 to bring the musical Fela to Broadway, and now Jigga and Mr. Jiggy, are teaming up with Shakira, and Twitter founder Biz Stone on a new iPhone app called Viddy.

Like the billion-dollar app Instagram which allows users to snap and share photos, Viddy allows iPhone users to quickly share videos across social networks. Viddy’s creator, Brett O’Brien, told the New York Times he hopes Viddy’s famous backers will help the company become the next big thing in the app world.

So far, O’Brien’s plan seems to be working. Viddy has 10 million registered users and are adding nearly 300,000 new users a day, but will Viddy become a household name?

What do you think? Do you use Viddy? Will you?

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