This week, Yahoo has acquired another company in the form of Qwiki for around $50 million. The new acquisition has created an iOS application which enables users to create movies out of photos and videos that are stored in their iPhones camera roll.
Qwiki’s Unique Features and Capabilities
Unlike many of the acquisitions made by Yahoo recently, the Qwiki application will stay in the Apple iTunes App Store and continue to be supported even after the Yahoo purchase. This is a significant move as it shows Yahoo’s commitment to maintaining and enhancing the user experience that Qwiki offers. The Qwiki app is known for its user-friendly interface and the ability to seamlessly integrate photos, music, and videos into cohesive, shareable movies. This makes it an excellent tool for users who want to create engaging content without needing advanced video editing skills.
The development team behind the iOS application will be moving into Yahoo’s New York office. This relocation is expected to foster greater collaboration and innovation as the team works closely with Yahoo’s existing resources and talent. Yahoo said in a blog post:
“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. Sharing a Qwiki is easy, whether you want to share your favorite moments from Coachella with your Facebook friends or celebrate the best moments from your sister’s wedding. 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.”
Implications for Yahoo’s Future
This acquisition is part of Yahoo’s broader strategy to enhance its mobile and multimedia capabilities. By integrating Qwiki’s technology, Yahoo aims to offer more dynamic and interactive content to its users. This move could potentially attract a younger, more tech-savvy audience who are looking for innovative ways to share their experiences online.
Moreover, the acquisition aligns with Yahoo’s efforts to diversify its portfolio and reduce its reliance on traditional web-based services. With the rise of mobile internet usage, having a strong presence in the app market is crucial for any tech company. Qwiki’s technology could also be integrated into other Yahoo services, such as Flickr, to provide a more enriched user experience.
In addition to enhancing user experience, this acquisition could also open up new revenue streams for Yahoo. For instance, the company could introduce premium features within the Qwiki app or offer advertising opportunities within the user-generated content. This would not only increase user engagement but also provide a steady stream of income.
Overall, the acquisition of Qwiki for around $50 million is a strategic move that could significantly benefit Yahoo in the long run. By keeping the app available in the Apple iTunes App Store and supporting its development, Yahoo is showing its commitment to innovation and user satisfaction. The integration of Qwiki’s technology into Yahoo’s ecosystem could lead to exciting new features and services that will keep users engaged and coming back for more.
Source: Tech Crunch
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