Under Marissa Mayer’s guidance Yahoo’s been making some waves, snatching up smaller companies in its bid to rebuild its struggling brand. The latest is Qwiki, an iOS video sharing startup similar to Twitter’s Vine and Facebook’s Instagram (which recently added short video clip functionality). Yahoo reportedly acquired Qwiki for $50 Million dollars.
The standout feature of Qwiki is the ability to make your clips into mini movies or “stories”, tying together pictures, video and audio as well as some fun filter effects.
Yahoo announced the acquisition with a post on its Tumblr (another recent acquisition):
We’re excited to announce that Yahoo! acquired Qwiki - a company that uses awesome technology to bring together pictures, music and video to capture the art of storytelling.
Have you ever listened to an old song and all of a sudden a favorite vacation, concert, or summer memory pops into your mind? The Qwiki app automatically turns pictures and videos that you already have on your iPhone into quick, beautiful movies to share, including transitions and a soundtrack.
Sharing a Qwiki is easy, whether you want to share your favorite moments from Coachella with your Facebook friends or celebrate the best moments from your sister’s wedding.
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. Stay tuned … there’s much more to come!