Yahoo's buying spree continuous, this time it has acquired US-based Qwiki, an iPhone app that creates story-telling videos by using pictures and videos in a user's mobile.
The acquisition amount was not disclosed, however one report says the acquisition is in the region of $40-50 million. Qwiki has raised a total funding of $10.5 million.
Yahoo's recent acquisition was the blogging site Tumblr for a whopping $1.1 billion, the first sign that the company was looking to reposition itself under new CEO and ex-Googler, Marissa Mayer.
Qwiki's new owner has confirmed that the app will continue to exist as a standalone product within Yahoo's ecosystem, and the app will be supported.
Qwiki, a TechCrunch Disrupt 2010 winner, pivoted from their initial offering and launched a Qwiki iPhone app in February.
Users can create a quick video by using pictures and videos in their iPhone. Users will also be able to add a sound track, edit pictures/videos, modify the video track order and publish it to social networks.
Because of the app's easy of use and video-based story-telling concept, Qwiki was immediately adopted by travellers to create their own trip videos. Luxury hotel web brand Mr & Mrs Smith was an early adopter of Qwiki.
A quick look at the Qwiki blog illustrates how popular the app is among travellers.
The purchase of Qwiki comes hot on the heels of Facebook-owned Instagram adding video features and Twitter pushing its Vine video app.
Just two weeks back, Tnooz published an article asking which travel company Yahoo should buy next. Tnooz suggested three companies (HotelTonight, Hipmunk or Travelzoo), but readers suggested (in the comments) a big and varied list (Yelp, TripAdvisor, MapQuest, FourSquare etc) of companies for Yahoo to consider.
So, the burning question remains - which travel company should Yahoo buy next?