Wimbledon-based web video host Mydeo is from today powering a new premium user-generated video portal for US retail chain Best Buy. Best Buy also took a minority equity stake in the company.

Best Buy Video Sharing charges users from $6.97 for 100 minutes of video. It’s a curious strategy, with Best Buy presumably aiming to create a space for its customers to share clips shot using consumer electronics bought from the retailer (kind of like Sony is doing with Eyevio in Japan and like Best Buy itself has done with Best Buy Photo Center and Best Buy Music Store). Indeed, the site will have in-store promo.  But the offering is a highly white-label version of Mydeo’s offering (changing only the masthead), is sorely limited technologically and charges users for many of the features they can get from the likes of YouTube for free. (Release via Guardian).

• Sony To Unveil Its Second Video Sharing Site Friday