Vringo is launching a video sharing community which allows you to share video ringtones (or Vringos) with your buddies each time you call them.

You choose the clips you’d like your buddies to see and they choose the clips they’d like you to see. Vringo clips can contain either licensed content from the best of movies, TV and music, or user generated clips that are created on your own mobile phone. http://www.vringo.com/

07/2007 Vringo has closed on a $12 million Series B round of venture capital funding. The round was led by Warburg Pincus. http://mashable.com/2007/07/31/vringo-funded/