Tube Chop is a online You Tube Video Editor. This application is very simple to use, just select the URL of a you tube video and paste it to Tube Chop search box and select time in ‘start and end’ box. Now go to chop it button. Click chop button and your work is done.
You will get edited video that you can embed or can share to your friends.
Visit Tube Chop
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I have been looking for some software like this for a long time.