Qwiki's new owner is yahooooo!!!

Brief intro to qwiki 

Don’t know, what's qwiki ?It is a mobile company that uses awesome technology to bring together pictures, music and video to capture the art of storytelling.  It is a New York City based start up automated video production company. Most recently, Qwiki released an iPhone app that automatically turns the pictures and videos from a user’s camera roll into movies to share.

So, if you have captured some beautiful pictures , have some short clips etc then you can easily convert them in videos, movies  to share .In auto mode, the app quickly makes a search of  the iPhone’s camera roll, determines that certain photos or videos are related, and creates a slideshow-like mixture of those images, incorporating music from the person’s library. Certain elements, such as the song selection, filters or captions, can be changed afterwards. Individual pictures and video clips can also be rearranged, added or removed.

Qwiki differs from mobile video apps like Twitter’s Vine or Facebook’s Instagram video because it uses content already on people’s phones. Vine and Instagram are for recording and sharing new clips. Qwiki movies can be shared via Facebook, Twitter, email and SMS, or embedded in blogs and Web pages. The app is currently available only in Apple’s App Store; there is no version for Android devices

Now, I should come to the main topic- Yahoo acquires qwiki, , as part of its push into the mobile market.
The estimated cost of the app company is coming out to be $50 million. Yahoo said that it will continue to support Qwiki app and their team will join Yahoo’s New York city office to reimagine Yahoo’s story telling experience.

This is Yahoo's third achievement since May when it bought blogging service Tumblr for $1.1 billion in cash. Earlier this week, the company seemingly acquired Bignoggins Productions, another mobile app developer. Analysts indicate that Yahoo’s recent acquisitions of smaller companies and large scale company like Tumblr are aimed at reinforcing Yahoo’s mobile and media pushes.

Yahoo was one of the earliest competitor in the internet market and enjoyed wonderful success as the sector boomed. However, it has struggled in recent years in the face of increased competition from search rivals including Google and the emergence of social media giants such as Facebook.In attempt to turn around its fortunes it appointed former leading Google executive Marissa Mayer as its chief executive last year.Ms Meyer took the controls in July 2012 and has been snapping up firms as part of her plan.

Yahoo has seen its profits shrink in recent years in the face of competition from Google Inc and Face book Inc, but since she took charge in 2012 CEO Marissa Mayer has tried to turn the tide through a string of acquisitions.

   

Doug Imbruce, Qwiki's founder