If this is a Video CD or VCD, then we are talking about a video in MPEG-1 format. I checked the Video upload page here on Ning, and they say "We support videos in the .mov, .mpg, .avi, .wmv and .3gp file formats."
I've never attempted to pull an MPEG-1 video from a VCD and convert it, but a Google search of "Convert VCD to AVI" produced a lot of hits for tutorials. If you are using a Mac, add "Mac" to your search string.
I hope some of this helps!