CloudUp provides an intuitive, and powerful way to upload media. With the parent company of WordPress recently acquiring the small company, WordPress is about to get a boost in power. The integration of CloudUp would allow multiple users to edit a file, including inserting video, text, links, and pictures all while someone else could be doing the same.
CloudUp will replace the current WordPress media library. This will be a much improved service for WordPress.
To read more info about the acquisition, follow the link below.