New York, NY, United States (4E) – Yahoo Inc. has added another start-up to its growing list of acquisitions. The tech giant acquired iPhone video tool Qwiki for an estimated $ 50 million. The aim is to add more engineers and new technology.
“We’re excited to announce that Yahoo! acquired Qwiki – a company that uses awesome technology to bring together pictures, music and video to capture the art of storytelling.
“…The Qwiki app automatically turns pictures and videos that you already have on your iPhone into quick, beautiful movies to share, including transitions and a soundtrack,” Yahoo said in a statement.
Chief executive officer Marissa Mayer has made it clear that the company is determined to grab the attention of advertisers and users through mobile. It seems like the right path given how Yahoo has seen its monthly mobile users increase from 200 million to 300 million since the re-launch of photo-app Flickr.
In its growing list of start-up acquisitions, the biggest to date has been blogging website Tumblr. Yahoo acquired it for $ 1.1 billion.
Yahoo VP of social and personalization Mike Kerns added about the acquisition of Qwiki: “We’re clearly interested in using acquisitions as a means to bolster talent, bolster technology and improve our product suite,” according to Bloomberg.
Category: Consumer Goods
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