A new social networking site (SNS), which boasts of live video-broadcasting capability, is being introduced to internet users, and it is about to go public with more than 80 million shares offered in a bid to raise A$10 million.

Kondoot, the latest social network to emerge on the virtual landscape, is programmed and managed by two University of Queensland information technology graduates, Mark Cracknell and Nathan Hoad.

The new SNS promotes live video-broadcasting as its main service, with its creators saying it can be seen as a combination of Facebook, YouTube and Skype.

The way Kondoot works is that video calls are built into the browser, with which users can conduct large-scale broadcasting.

Hoad and Cracknell told the APP they 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.

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

The AAP reported Kondoot will soon test investor appetite by seeking cash from those interested to be in its sharemarket listing.

Cracknell, also the company's executive director, says Kondoot has the potential to surpass the popularity of Facebook, as a social network, and YouTube, as a video channel.

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