Yahoo Considering $50M Qwiki Acquisition

Yahoo’s acquisition spree may continue if the latest rumors prove as accurate as the last. Just as reports accurately predicted Yahoo’s acquisitions of Summly, Tumblr, and most recently, GhostBird Software, the current chatter indicates that Yahoo has already begun talks to acquire Qwiki. Published reports Tuesday indicate that the purchase of the mobile video application …   Read More

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Yahoo’s acquisition spree may continue if the latest rumors prove as accurate as the last. Just as reports accurately predicted Yahoo’s acquisitions of Summly, Tumblr, and most recently, GhostBird Software, the current chatter indicates that Yahoo has already begun talks to acquire Qwiki.

Published reports Tuesday indicate that the purchase of the mobile video application developer could be worth upwards of $50 million.

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

All Things D reports that both parties are now in advanced discussions.

Qwiki recently released that app, but began as a multimedia search offering, with another iPad app that creates video summaries of search terms, as well as other video creation tools for storytelling. And, last year, it partnered with Yahoo news partner, ABC News, on a publishing platform to quickly create interactive stories.

Although Yahoo continues to surprise some with its selection of companies to acquire, Yahoo has definitely shifted to a  mobile-first focus. As a result, Yahoo CEO Marissa Mayer reportedly wants to cultivate an array of daily apps and services to “reinvigorate its offerings.”

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