(CNN) -- Vimeo set an ambitious goal for its premiere iPhone application.
The team developing an app for the online video-sharing service decided its software should match or exceed that of a similar app created by Apple -- and, at the same time, undercut Apple's price.
Nearly a year behind schedule, Vimeo's top brass thinks it finally has an answer. The InterActiveCorp company will release a free iPhone app Tuesday that lets users shoot and edit video as well as view clips from the website.
Work on the app was primarily focused on the recording and editing aspects because Vimeo spent last year tuning its website to enable smartphones to view its videos reliably. That's unlike Google's YouTube, which first created ubiquitous apps for many smartphone platforms and then overhauled its website to work well on mobile browsers.
