A company called yourBusinessChannel has launched a new application that combines the two popular social networks YouTube and Facebook. The app allows a user to watch video on YouTube and leave comments on the video that appear on both YouTube and Facebook at the same time.

The company is holding a contest for those who download and install the application with a grand prize worth up to $60,000. The winners of the prize will be announced next week according to the company.

“Some of the social marketing applications of this tool are fairly obvious, such as allowing users to read and respond to comments regardless of what social media platform they are on,” says Sinclair. “But what is really exciting about the tool is that once it’s out there, there will be hundreds of new and different business development uses that we can’t currently foresee. The power of the internet is that it allows everyone to access and collaborate using new technology.”