Yahoo acquires video storytelling app Qwiki
Yahoo on Tuesday announced the acquisition of Qwiki, an application available on the App Store that quickly turns photos and videos captured on your iPhone into movies to share on Twitter, Facebook and other social media.
Qwiki began as an online search engine that turned queries into videos when it launched in 2011, before becoming the popular application it is today by focusing on storytelling rather than information.
The New York-based Qwiki wrote on its blog that its app would continue to be available on the App Store, despite the acquisition. "The Qwiki app will live on as a standalone entity inside Yahoo!, where we will grow our thriving community and where our team will continue to work to help you share life’s best experiences," it said.
This is something Yahoo has done with many of its recent acquisitions.
Neither Qwiki nor Yahoo disclosed the amount involved of the deal, though it was previously rumoured by AllThingsD to be roughly $50 million. The acquisition follows a push by Yahoo and its CEO Marissa Mayer in recent months to snap up several mobile-based start-ups as it pushes for relevance in the mobile world.
Check out Qwiki in action: