Yes! You'll be able to attach photos to any events you save. For example, you could save your baby's height every month, and attach a photo for reference. Video uploads might not be available in the first version of Newbee, but it's on my radar.
While Newbee is great for tracking daily events and statistics, it's not really meant to be used as a digital journal or scrapbook. If you're interested in saving and sharing moments in your child's life, I'd recommend checking out Notabli. (http://www.notabli.com/) Our family uses it almost every day!