Yahoo buys mobile app Qwiki

Yahoo said that it will buy Qwiki, a mobile app for creating videos in Apple’s iPhone

By - July 3, 2013
Yahoo sign

Yahoo Inc said that it will buy Qwiki Inc, a mobile app for creating videos in Apple Inc’s iPhone, as it tries to increase its presence in the world of smartphones and tablets.

The company paid about $50 million for the deal, tech blog AllThingsD cited sources as saying. Terms of the deal however were not disclosed.

This is Yahoo’s third acquisition since May when it bought blogging service Tumblr for $1.1 billion in cash. Earlier this week, the company reportedly acquired Bignoggins Productions, another mobile app developer.

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

Qwiki’s app would continue to be supported by Yahoo and its employees would move to Yahoo’s New York offices.

Yahoo shares closed at $24.99 on Tuesday on the Nasdaq.

(Reporting by Avik Das in Bangalore; Editing by Stephen Coates)

More software news

BBM for iOS, Android gets launch window

Microsoft releases update, revs up developers for Windows 8 apps

Windows 8.1 Preview download live

Share your thoughts

Shutterstock is the image partner of MyBroadband – more technology images

Join the conversation

Connect with Us

androidappletwitterfacebookgoogleplusfeednewsletter

Poll

If South Africa was to have only one capital, which city should it be?

View Results

Loading ... Loading ...

More News

Endless PC gaming for R48.50 a month

Origin Access

Origin Access is now available in South Africa, offering PC gamers the chance to play a growing collection of games.

South Africa’s best online shopping deals tested – the result is clear

Tech Deals Specials

Many online shops like Takealot, OneDayOnly, Loot, and BidorBuy have regular deals. We test whether their discounts are as good as they say.

Kim Jong-Un is an Apple Mac user

Kim Jong-Un

Photos have emerged which show that the supreme leader of the Democratic People’s Republic of Korea, Kim Jong-Un, is a Mac user.

Gigabit LTE speeds of up to 1Gbps

Gbps

The new Qualcomm Snapdragon X16 LTE modem supports Gigabit Class LTE speeds of up to 1Gbps.

X

Newsletter Subscription


Name
Email *
Enter the following to confirm your subscription *
Captcha image


Free MyBroadband Newsletter
Subscribe
x