San Francisco: Yahoo Inc. announced on Tuesday that it had bought a startup behind a cinema app for smartphones, extending a shopping spree launched after Marissa Mayer became the leader of the Internet pioneer a year ago.
Yahoo did not disclose how much it paid Qwiki, the New York operation behind an app that converts videos and images on iPhones into shareable video clips with musical soundtracks.
âHave you ever listened to an old song and suddenly a favorite vacation, concert, or summer memory comes to mind?â Yahoo asked rhetorically in a blog post announcing the ‘acquisition.
âThe Qwiki app automatically turns the photos and videos you already have on your iPhone into beautiful, quick-to-share movies, including transitions and a soundtrack. “
Yahoo has pledged to continue supporting the Qwiki app after the startup’s team moved into its New York office.
The Qwiki purchase announcement came a day after Yahoo announced it had purchased Bigoggins Productions, a one-man company specializing in fantasy sports apps for iPhones.
Yahoo struck a billion dollar deal in June to take over the popular blogging platform Tumblr, an initiative to draw younger users into the company’s orbit.
Yahoo has bought out companies since Mayer took the helm in July last year and pledged to revive the company, which collapsed in the face of competition from Google.
Yahoo bought a startup last month Ghost Bird Software, which makes shooting apps for iPhones, to improve sound Flickr photo service.
Since former Google executive Mayer became head of Yahoo, the company has racked up a string of acquisitions, including startups Alike, Stamped, Snip.it and a Summly app created by a British teenager.
Yahoo recently bought PlayerScale, a startup that powers games on smartphones, tablets, consoles or personal computers.
Yahoo is reportedly monitoring online video site Hulu after its offer to buy a majority stake in French company Dailymotion derailed in May.
Mayer’s plan to revive the fortunes of the faded Internet pioneer includes prioritizing mobile devices, video, personalized digital content, and increasing the company’s popularity outside of the United States.
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