Added basic readme

README.md

-edx-val
-=======
+edx-val (Video Abstraction Layer)
+=================================
+
+edx-val is a django app that creates and retrieves metadata for videos and subtitles. When creating video entries, they can be assigned to preset profiles such as 'high_quality' or 'mobile_only'. When requesting a video, the client does not need to know which profile to retrieve, but only the `edx_video_id` of that video. Since all the different profiles for that particular video is returned, the client can decide which profiles they want to use. 
+ 
+Example:
+Retrieve all profiles for a video with `edx_video_id`="example"
+```
+>>> get_video_info("example")
+Returns (dict):
+{
+    'url' : '/edxval/videos/example',
+    'edx_video_id': u'example',
+    'duration': 111.0,
+    'client_video_id': u'The example video',
+    'encoded_videos': [
+        {
+            'url': u'http://www.example.com/example_mobile_video.mp4',
+            'file_size': 25556,
+            'bitrate': 9600,
+            'profile': u'mobile'
+        },
+        {
+            'url': u'http://www.example.com/example_desktop_video.mp4',
+            'file_size': 43096734,
+            'bitrate': 64000,
+            'profile': u'desktop'
+        }
+    ]
+}
+```
+