Google announces new video editing tool for YouTube

Yesterday, Google added a new tool for editing video in the cloud on YouTube.
Without installing any software, it allows you to:

• Combine multiple videos you’ve uploaded to create a new longer video
• Trim the beginning and/or ending of your videos
• Add soundtracks from our AudioSwap library of tens of thousands of songs
• Create new videos without worrying about file formats and publish them to YouTube with one click — no upload necessary