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TECHNOLOGY => Computing and Internet => Topic started by: ReadWrite on Jul 03, 2013, 01:02 AM

Title: Yahoo Picks Up Qwiki For A Rumored $50M
Post by: ReadWrite on Jul 03, 2013, 01:02 AM
  (http://readwrite.com/files/qwiki.jpg)  

Yahoo announced that it has just acquired New York–based Qwiki (http://yahoo.tumblr.com/post/54451173706/qwiki-qwiki-yahoo), a startup known mainly for an iOS app (https://itunes.apple.com/us/app/id599210280) that automatically turns users' pics, music and vids into brief movies. Yahoo paid roughly $50 million in the deal, All Things D reported (http://allthingsd.com/20130702/yahoo-buys-qwiki-for-50-million-like-atd-said/).

(See also: Move Over, Flipboard: Qwiki Is The iPad's Newest Killer App (http://readwrite.com/2011/04/20/move_over_flipboard_qwiki_is_the_ipads_newest_kill) and In Defense Of Qwiki (http://readwrite.com/2011/01/24/in_defense_of_qwiki_-_the_machine_that_reads_to_yo))

Qwiki fans might fear for its life, given Yahoo's penchant for dropping the axe on new acquisitions. But Yahoo promises to keep the Animoto-like app whole: “We will continue to support the Qwiki app, and the team will join Yahoo in our New York city office to reimagine Yahoo’s storytelling experience,” the company wrote in a blog post (http://yahoo.tumblr.com/post/54451173706/qwiki-qwiki-yahoo).

ReadWrite