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yahooYahoo! seems to be in the mood for spending money lately and if the rumors are true, they are ready to drop more than $50 million for the acquisition of Qwiki, a mobile video app. 

In recent months, Yahoo has purchased Ghostbird Software, Summly and most notably, Tumblr in an effort to revitalize its brand with a younger generation. The internet giant’s CEO Marissa Mayer has made it very clear that she wants to “reinvigorate its offerings” and seems to be focusing on apps and mobile services. 

Qwiki launched in 2011 and its original product, an iPhone app that made video summaries from search terms, was named as Apple’s best Search and Reference application that same year. The company’s most recent app takes the pictures and videos from a user’s iPhone and creates shareable movies. 

“We don’t want to be the world’s 10th video-sharing app. There are plenty of those,” Doug Imbruce, Qwiki CEO and co-founder, said in February. “We want to be the first real storytelling app.” 

Strengthening the rumors of Yahoo’s interest, Qwiki collaborated with ABC News, a Yahoo News’ partner, last year for its storytelling app.

Source: Mobile Marketing Watch

Photo Sources: Qwiki, Yahoo


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