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Yahoo Looks To Social Video Service Qwiki For Its Next Acquisition

Yahoo Looks To Social Video Service Qwiki For Its Next Acquisition

June 18, 2013
With Tumblr, GhostBird, and Astrid all reportedly in the bag, Yahoo is looking ahead to its next acquisition and has the crosshair set on Qwiki, according to a recent report from AllThingsD. Citing "sources close to the company," the website claims that Yahoo is considering purchasing Qwiki for $50 million, and states that the two companies are in "advanced stages of discussion over the acquisition." As a reminder, Qwiki is a fully featured video sharing service that launched a dedicated iPhone app earlier this year. AllThingsD explains:
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.
Yahoo's Tumblr acquisition set the company back some $1.1 billion, and constitutes just one of several acquisitions to have occurred over the course of the last few months. Yahoo CEO Marissa Mayer indeed appears to be concentrating particularly on her company's mobile presence, and it'll be interesting to see exactly what, if anything, the company offers in the coming months. We'll keep you updated with further information as we receive it. In the meantime, see: ASUS Lowers Tablet Sales Forecast As iPad Continues To Threaten Windows 8Rovio Teases Upcoming New Chapter In Original Angry Birds Game, and Digg's Google Reader Replacement Set To Launch On June 26 For iPhone.

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