Yahoo Buys Qwiki to Improve Storytelling Experience

The company has bought yet another startup in its efforts to become relevant again

By on July 3rd, 2013 08:19 GMT

Once more, Yahoo doesn’t seem to be anywhere near done with its shopping spree as the company has announced the acquisition of yet another startup, Qwiki.

The New York startup creates iPhone apps that allow users to run photos, music and videos into short movies with very little effort.

According to AllThingsD, the deal took about $40-$50 million (€31-€37 million) from Yahoo’s pockets.

Unlike other startups that had been bought by Yahoo and had to close down their apps, Qwiki apps will continue to be supported, while the team is set to join Yahoo in New York.

They will help the company reimagine Yahoo’s storytelling experience, according to the Internet giant.

Qwiki officials took the opportunity to thank the investors, advisors and users who helped them so far in their efforts to grow as a company and to provide better services.

Another acquisition was announced yesterday.

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