VideoANT is a Video Annotation tool that allows users to combine web-based video with text-based annotation.VideoANT does not host video, but allows you to annotate a video that is already in existence.
This site can be used for peer critiques, teacher feedback, and general commentary that the creator want to highlight in their video. Each annotation you add creates a "marker" in the video that allows you to jump from point to point.
After you sign up for VideoANT, two URLs appear in your email's inbox: one that enables you to edit your video, and another that you can forward to other people (whom you want to just watch the video and not create their own annotations).
See a VideoANT Demonstration here.
Go to the VideoANT Homepage