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Yahoo acquires Qwiki
Yahoo has this week announced its purchase of Qwiki, the start-up behind an iPhone app that allows users to turn photos, music and videos into short movies automatically.
Yahoo have not revealed how much they paid for Qwiki however it is speculated that they have paid in the region of $40 to $50 million (£26m-£33 million).
Yahoo has been on a spending spree recently focusing on mobile software which it hopes will win advertisers and users back from rivals Google and Facebook. The acquisitions tie in with the appointment Marissa Mayer who was hired as CEO a year ago. Yahoo has acquired 15 companies since Mayer was hired, including three since May, when it bought blogging service Tumblr for $1.billion (£730 million). It appears that Mayer’s plans are working- revenue has increased by 62 per cent to $28.2 billion (£18.6 billion) since she became chief executive.
Watch this space for further Yahoo acquisitions! If you have comments on this blog please contact John North, Head of Corporate and Commercial on 020 7583 2222 or firstname.lastname@example.org or Sonia Mohammed email@example.com