SocialCam is a 'social media' company? Serious question. I've always felt it was more of a link/video spam site that holds barely any original content - just a long chain of forwarding/referral links.
It's collects media (video) and shares it (social), so I think it would be considered a social media company. Honestly, not too worried about the semantics here, the point is that it has nothing to do with 3D modeling/manipulation software. Buying for customers? Talent acquisition? Revenue acquisition? It's an odd one for sure...
Autodesk is getting into the consumer space, trying to build a community of creators via acquisition. Another example of this strategy was the Instructables acquisition last year.
I don't know what they specifically plan to do with SocialCam but I'm sure it fits into this consumer community strategy in some way.