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 Share on LinkedIn
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

Join the conversation

Connect with Us

androidappletwitterfacebookgoogleplusfeednewsletter

Poll

If you could only choose one form of entertainment, which would it be?

View Results

Loading ... Loading ...

More News

What your South African ID number reveals about you

RSA ID Book

This is what your South African identification number means.

I played No Man’s Sky and it filled me with awe

No Mans Sky

Setting aside the controversy swirling around No Man’s Sky for a few hours, I sat down to experience the game for what it was.

Video games at the Olympics

PC gaming

Japanese Prime Minister Shinzo Abe’s appearance as Super Mario in the closing ceremony of the Rio 2016 Olympic Games delighted audiences around the world.

Top 30 TV shows on DStv

DStv logo

The Broadcast Research Council of South Africa recently released the top 30 TV programmes on DStv for July.

Free MyBroadband Newsletter
×