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Yahoo acquires Qwiki for a rumored $50 million

Yahoo acquires Qwiki start-up, purchase price rumored to be $50 million

| Business, Financial & Legal News | Posted: Jul 2, 2013 10:37 pm

Yahoo has been on an acquisition binge as of late. The latest company that Yahoo has acquired is the start-up Qwiki. Qwiki is an app that takes a user's pictures, music, and videos and turns them into short videos, hence the name Qwiki. The purchase price has not been disclosed, though it's rumored to have been around $50 million.

 

TweakTown image news/3/1/31518_1_yahoo_acquires_qwiki_for_a_rumored_50_million.jpg

 

Yahoo has gained a reputation as a company that often kills a start-up after acquiring it. However, this doesn't seem to be the case for Qwiki. Yahoo has said in a blog post that the team will join Yahoo in its New York offices. "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."

NEWS SOURCE
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