IS: Ibeatyou is off to the races and on to the social networks

"Competition exists in all walks of life. Ibeatyou capitalizes on that idea with a site that allows users to set up competitions across a wide range of fields, everything from dancing to comedy to music to yes, sports (checkout our full coverage here).

As an example, basketball star Steve Nash posted a video challenging users to see who could hit the most free-throws in a minute. Users watch the competiting videos and judge each on a scale of one to five. The video with the highest average score when the competition ends is the winner.

Now the site will find itself in a competition of its own. The Ibeatyou logo will be placed on the Luczo-Dragon Racing car during this year’s Indy 500. Steve Luczo, the chairman of hard drive manufacturer, Seagate, and an Ibeatyou investor, is the owner of the car. The car finished 5th in last year’s Indy 500 and looks to continue that success given the competitivness of Ibeatyou."