Vince Broady, the former founder of Gamespot and former SVP of entertainment at Yahoo, has officially launched his new startup called ThisMoment. The San Francisco-based company has also raised about $3 million in seed funding, from some familiar digital media names like Shelby Bonnie, Mika Salmi, and Jason Hirschhorn; prior to the funding last year, he invested about $500K of his own money into it. The company uses a lot of high-falutin words in describing itself in the release, as do most of the stories about the service launch today, but in essence it is an enhanced photo and video album service, with lots of social media tools built in to allow sharing of these “moments”. It allows users to pull in other sources of content in as well, including YouTube, Flickr and others, besides users’ own media (uploaded through the site and its mobile app), annotate them, and share it through various social services like Facebook, Twitter etc.

As for revenues, for now, it is relying on licensing its platform: it has tied up with Time Inc.’s People.com (the site will use it to illustrate its stories, a use that may have broader online storytelling uses for other publishers as well, especially its timeline capability. See this story from NYT for example.) and the Symbian Foundation (ThisMoment will develop and maintain a consumer site for it). Also it has tied up with NYT, Time Inc.’s Lifestyle Group and Road and Track, where selected content from these pubs can be used for free to develop these “moments”. Likely they will go premium after a while, another source of revenues. The site also plans to add advertising down the line.

A video intro on the service, from Broady:

• Industry Moves: Broady Out At Yahoo