ClipBucketlite is an OpenSource & Free Video Sharing Script with enormous features. Highly efficient Admistration Panel and User friendly interface. It has all those features that a video sharing websit like Youtube & Metacafe has. It has Built in Messeging system with Social Networking Features. People can create their own channels, customize it and also can create groups to have a discussion.

http://clipbucket.net/v2/ - demo