Velapp is an amazing iOS app that edits video as you shoot it in the app. While you are shooting video in the app you just tap a button when you are recording something you know you'll want in the video, and the app does the rest. Once you are done recording, the edited video from your clip will appear.
This is a great app to use when you are recording something long like a sports event, speech, or rally, and want to pull highlights from them right after. If you want a quick turnaround from an event to put on social media then this is the app for you.
Obviously this app isn't for every video. If you are putting together a story from many clips then you will still have to use an editing app or program on your computer like Final Cut or Premiere Pro.
However, if you are shooting a sporting event, or something that requires you to shoot continuously and you need a quick turnaround, then this could be a great option for you. This is great for video journalists who are covering an event. You can use the app to put together a highlight reel for quick release on social media and then do a more detailed edit on the footage for a final piece after.
If you are trying to put together a video from many clips and create a compelling story, you'll still want to use an editing app on your smartphone or computer.
Check out the app on the App Store here.