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Yahoo Buys Video Editing Site Jumpcut

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With no other site except YouTube gaining any real traction in the crowded video sharing space, Yahoo has done the next best thing: bought a video editing tools site JumpCut. The financial terms were not disclosed.
Jumpcut’s video editing tools are Flash based, and are online, hence easy to use. Yahoo will probably offer these tools as part of its own online video sharing and uploading service. The startup had raised some seed money from Westlake Venture Partners and Great Oaks Capital, and two individual “angel” investors, and was in the process of raising another round of capital when Yahoo came in with an offer, says VentureBeat.
Jumpcut’s blog: “We’ll be working with Yahoo’s media and advertising partners to bring everyone high quality content for remixing into movies. In addition, we will continue to offer and expand the Jumpcut APIs to any partner website wanting video creation and remixing inside your website and offer branded editing and remixing experiences on”