Money Matters - Simplified

Will Yahoo rattle social stories with Qwiki, the multimedia app?

Yahoo goes shopping, folks!! After grabbing Tumblr down and some other smaller startups, Yahoo gets Qwiki under its wing. The multimedia app, Qwiki, is an addition to Yahoo’s acquisition tear.

Google Facebook, move over, Yahoo here

Google and Facebook, you better gear up, Yahoo is in action!! The internet giant Yahoo, now has acquired a storytelling app on the mobiles called Qwiki.

The company, Qwiki is basically the trigger push behind an iPhone app and permits the users to create short movies out of music, videos and photos automatically. A little while ago Yahoo had focused all its attention towards blogging services like Blognoggins Productions and Tumblr. In this way Yahoo has managed to please the iPhones by bagging fantasy sports apps.

Yahoo gets Qwiki

Now this “Qwiki purchase” is quite something to win back the attention of the users and the advertisers, are we right Yahoo? Discreet is the word for Yahoo, at the moment, as it is keeping the amount paid for Qwiki under wraps, but the buzz states that Yahoo booked the bulls eye for a whopping amount of $40m - $50m (£26m-£33m).

The spokesman for Yahoo was heard excitedly commenting “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.”

A favorite old song, a memory relished over the years or a vacation stored on the iPhone can all be turned into an awesome movie that can be shared with a soundtrack and transitions.

Talking about the Qwiki purchase Yahoo confirms that it "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!”

Yahoo’s past ventures

One of the pioneer entrants when the web and internet craze took over the whole world by storm , Yahoo has managed to reign supreme for many years but recently the company faced tremendous competition from others.

Social media networking giants like Facebook and search engine rivals like Google entered the “internet race” and the competition made Yahoo struggle to remain at the top.

Yahoo smartened and managed to rope in Google’s chief executive Marissa Meyer to help it retain its supremacy and get back the lost fortunes. Meyer aggressively started the Yahoo turnaround and since July 2012 Yahoo is busy grabbing firms to rule the internet platform.

Start ups like Snip.it , social recommendation startup Jybe, Stamped, Alike, and a news summarization Summly application created by a U.K. teenager were snapped up by Yahoo in a jiffy. Then came Flickr, which was spotted by the “Yahoo scanner”. They got Flickr that pleased the users with free use of about 1TB storage