Clearly Yahoo’s enthusiasm about inorganic expansion hasn’t ebbed. Despite the closure of multiple apps within this week, in its latest acquisition bid, it has bought Qwiki, a company that offers creation of short clips from still images.
While the exact financial details are under wraps, a few tech sites are pegging the figure in the range of US$ 40–50 Million for a company that had managed to raise US$ 10.5 Million in various rounds of funding. Interestingly, Yahoo will continue supporting the independent efforts of the company, while the entire team will relocate to Yahoo’s offices in New York confirmed an official statement from the company,
“We will continue to support the Qwiki app, and the team will join Yahoo! in our New York City office to reimagine Yahoo!’s storytelling experience.”
Qwiki is essentially a company that offers a visual storytelling creation platform from still images. In its initiation days, it was created with the intention of generating short, informational videos on popular search terms. An innovative approach to mash stills into dynamic imagery did enjoy a burst of enthusiastic adoption, which was noted by Apple who awarded the app with ‘Editor’s Choice’ award.
However, once the novelty wore off, the app’s traction has slid down. Still, the potential of the platform is not lost. Realizing the need to innovate the app & make it more relevant & personal, Qwiki offered its users the ability to generate movies from photos & videos stored locally.
How could Qwiki assist Yahoo? The internet giant has suffered severe blows owing to its miscalculated & restrictive visions. Now Yahoo wants to rebuild its stand in the internet domain, in which it was a dominant player once. The appointment of Marissa Mayer has seen some highly dynamic & aggressive realignment within the company. Most prominent among those has been the relentless & regular third-party acquisitions. Qwiki could help in reconnecting Yahoo on a more intimate level with its subscribers. What do you think?
Image Courtesy | socialnewsdaily