/// Next: Yahoo Also Eyeing Automated Video App Maker Qwiki in $50 Million Deal

June 18, 2013  |  All Things Digital


According to sources close to the company, Yahoo is considering paying up to $50 million for Qwiki, the New York startup that makes an Apple iPhone app that allow users to turn photos, music and videos into short movies automatically. While deals such as this always go sideways, sources said that Qwiki and Yahoo are in advanced stages of discussion over the acquisition. 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. While all that pivoting seems unusual, the company recently settled on its mobile-only focus, which is just what Yahoo CEO Marissa Mayer has been aiming Yahoo’s efforts at, looking to create a series of daily apps and services to reinvigorate its offerings. She has also been on the lookout for talent. Qwiki is led by CEO and co-founder Doug Imbruce, but its other co-founder is Louis Monier, the founder of the AltaVista search site, who left the company in 2011

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Next: Yahoo Also Eyeing Automated Video App Maker Qwiki in $50 Million Deal



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