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.
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. However the development team behind the iOS application will be moving into Yahoo’s New York office. 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.”
Source: Tech Crunch