The shopping spree does not seem to be coming to an end for Yahoo and after getting hold of Tumblr, GhostBird Software and Rondee, the internet corporation has now acquired Qwiki, a company “that uses awesome technology” to narrate stories by joining videos, music and images. Yahoo made this announcement on Tuesday, July 2nd by posting the message over its official blog:
“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.
Have you ever listened to an old song and all of a sudden a favorite vacation, concert, or summer memory pops into your mind? 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.
Sharing a Qwiki is easy, whether you want to share your favourite 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. Stay tuned … there’s much more to come!”
Mayor of New York City, Michael R. Bloomberg was also pleased with the acquisition, as in a statement he said that, “Qwiki is a great example of the momentum in New York City’s booming tech sector. While the company was started out west, they relocated here to be a part of our surging tech community… We congratulate them on their partnership with Yahoo!, and hope they continue to grow and thrive in New York City.
We hope so too! This is so much more than a happy ending. It’s a beautiful new beginning. Yahoo!’s focus on our city is further inspiring.”
Yahoo, however, did not reveal the amount it had spent to purchase Qwiki, but various estimates have been whirling in the tech world for a while, as AllThingsD suggested that the multinational company might have spent $40 million to $50 million to finalise the acquisition deal. As far as providing support to Qwiki app is concerned, Yahoo has affirmed that it will give full support to the team behind the application, but they have to move to the New York City office of the internet corporation.
People, who are not familiar with the Qwiki app would find it really interesting, as it automatically takes videos and images that a user has already saved on his or her iPhone and then, converts them into movies by adding music as well. Currently, Qwiki is only available for iOS device users, but now it has been acquired by Yahoo so one can expect it arrive on the free Android OS of Google as well.
Photo: SocialTimes
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