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Yahoo looking to acquire video maker app Qwiki for a reported $50 million

Yahoo to acquire yet another start up, this time it is eyeballing Qwiki for $50 million

| Business, Financial & Legal News | Posted: Jun 18, 2013 7:04 pm

In a world where we see startups and dev houses being snatched up left and right, it is no surprise that someone is looking to purchase the automated video maker app Qwiki. With Vine growing every day in popularity and Instagram looking to add video to its service later this week, Yahoo is looking to get in on the video app craze that is so popular at the moment.

 

TweakTown image news/3/1/31128_1_yahoo_looking_to_acquire_video_maker_app_qwiki_for_a_reported_50_million.jpg

 

According to All Things D, sources close to the company are disclosing that Yahoo is looking to purchase Qwiki for somewhere close to $50 million. Things could still go south in the deal, but word on the street is that both companies are in the advanced stages of the acquisition, and transfer of ownership looks to be imminent.

 

For those not familiar, Qwiki is an app that lets iPhone users quickly combine photos and videos into a single stylized video for sharing with friends on the web. This is yet another purchase in a long line of acquisitions since CEO Marissa Mayer took the head seat at the company.

NEWS SOURCE
Allthingsd.com

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