Brad Greenspan's latest creation is billed as an "advanced on-demand interactive broadcasting platform providing instant global reach and messaging to any user with a webcam".
Users can create and broadcast live content alone, or in conjunction with friends, colleagues or newly acquainted users, with LiveVideo.com's LiveShow platform.
LiveShow boasts interactive features such as LiveTextChat, LiveCoHost and LivePolls to encourage social interaction with a real-time community.
The platform also allows advanced video users to broadcast on their channel with multiple cameras to create broadcast-quality shows.
"Move over MySpace, YouTube and other similar sites," the company said in a statement.
"LiveVideo.com has innovated live streaming and community, and consolidates social networking features into one easy-to-use platform.
"LiveVideo users can also manage their blogs, photos, videos, music and networking sites from one location."
However, some experts have speculated that the service will be used extensively to broadcast pornography.
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