Yahoo announced Tuesday that it has acquired Qwiki, a storytelling app that integrates photos and videos. The company wrote in a blog post that Qwiki would be joining Yahoo’s New York offices and that it would continue to support the Qwiki app. AllThingsD reported that the purchase price was about $50 million.
Yahoo has been on an acquisition tear recently under CEO Marissa Mayer’s leadership, from the $1 billion Tumblr acquisition to smaller purchases like the social recommendation startup Jybe, to the news summarization app Summly. While it’s not totally clear what Yahoo will do with Qwiki, it’s clearly interested in acquiring companies in the mobile media space.
In a blog post, Yahoo explained the acquisition:
“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 favorite 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!”
In May 2012, we wrote about the startup’s efforts to launch a new type of content that “allows publishers, bloggers, Web personalities and others to create 60-second video stories that are embedded with other videos, images, maps and links.” Previously, the company had been focused on visual search products, but after questions about the company’s direction, it switched to doing mobile story-telling.