Yahoo! acquires video creation and sharing app Qwiki

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By Brandy Shaul Comments

Qwiki Acquisition-1

With Yahoo’s acquisition of Tumblr officially finalized on June 20, Yahoo CEO Marissa Mayer isn’t allowing the company to sit idle. In fact, its latest purchase has been announced this week, as Yahoo has acquired mobile picture and video sharing service Qwiki.

Qwiki allows users to turn pictures and short videos into movies, complete with filters, photo transitions, and soundtracks taken from a user’s device library. These movies, or “qwikis,” can then be shared via Facebook, Twitter or email. Qwikis can also be created and stored for later sharing in the case of timely events or upcoming announcements.

Qwiki won TechCrunch Disrupt in 2010, an event at which Mayer was a judge. The app launched on iOS in 2012.

Qwiki will continue to operate as a standalone product, but Yahoo has announced that the team will join Yahoo’s New York City office to “reimagine Yahoo’s storytelling experience.”

This acquisition moves Yahoo closer to the likes of Twitter and Facebook, both of which control their own video sharing services (Vine and Instagram, respectively).

The terms of the acquisition weren’t announced.

“This is so much more than a happy ending,” says Qwiki’s blog. “It’s a beautiful new beginning.”

[H/T Engadget]