This fact may surprise someone, but online you can successfully edit videos and video clips. There are at least five free services for this. Free is an important advantage, because Adobe Premiere costs about $ 800 and is very difficult to work with. Why buy a professional package and torture your own PC if you can perform all resource-intensive operations on a remote server?
ExtremeTech has published a detailed review of five free video editing services.

We publish only a brief squeeze of the facts, so that you can evaluate the general possibilities of this kind of services.
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Jumpcut
JumpCut is the most functional service for video editing, although it is not without some problems with downloading files. It has one of the best interfaces. However, in this regard, all five services are very good.
JumpCut is a well-known startup that became famous recently when it was acquired by Yahoo (for about $ 15 million). The maximum size of the file being edited here, as in Eyespot, is 100 MB. You can also upload photos and audio files to add to the video.
One true media
One True Media is another full-featured video editing service with several nice transition effects, text frames. The main thing is that there is an opportunity not only to download the movie you created, but also to burn it to DVD directly from the site (they will send the disc by mail) in order not to drive traffic.
Owners of paid accounts for $ 4 per month get more special effects and fonts, 20 GB of disk space and the ability to burn DVDs.
Cuts (beta)

Easy to use free service, supports editing videos from YouTube and MySpace. Actually, this is just the purpose, so editing large videos from your own computer is problematic here.
The functionality is very limited - only the most basic functions. Not enough features for audio. There is no possibility of hosting videos and even the ability to download your work.
Eyespot
A good service with a video download function, but in terms of functionality it’s still more like Cuts, that is, the service is rather primitive. It differs from Cuts for the better in that you can add your own music and apply at least some transition effects.
Motionbox
The service exists under the motto “Simple publication of personal video” and, in its implementation, is similar to the photo managers of Yahoo! Photos or Picasa Online, but only for videos. In other words, this is a video album that can be shown to friends and only in the second place - something to edit.
The functionality of all of the above services extends beyond conventional installation. All of them have means of publishing videos, assign a URL for each material - it can be sent directly from the site to a list of your friends. Almost all sites are trying to introduce the functionality of social networks and create a community of users.
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ExtremeTech