Yahoo Acquires Qwiki
Yahoo confirmed the acquisition of Qwiki, a startup that makes an iPhone application that allows users to automatically turn photos, music, and videos into short movies. The tech giant is reportedly working to build up their mobile-only focus, and is looking to create a series of apps to add to their services.
In addition to Qwiki, Yahoo has been buying up other mobile app companies – most notably the recent acquisition of Tumblr for over $1 billion. According to a recent blog post, Yahoo has no plans to kill off the brand after the acquisition and the team is reporting that the app will remain in the App Store and will continue to be supported.