There's no stopping Yahoo lately. The ink hasn't dried yet on the Internet giant's $1.1 billion acquisition of the world's #2 blogging platform Tumblr and today Marissa Mayer & Co. have acquired another startup. This time around, Yahoo set its sights on Qwiki, a NYC-based startup behind an iPhone app of the same name.
Qwiki launched in alpha testing mode on January 24, 2011 after winning the TechCrunch Disrupt Award in 2010. The ingenious iPhone software turns images and videos from your Camera roll and turns them into short and beautiful movies. Apple named Qwiki its Search and Reference application of 2011 and it received Apple’s Editor’s Choice.
Yahoo dropped a cool $50 million on Qwiki and promised to continue to support the Qwiki app. The Qwiki team will join Yahoo's New York city office "to reimagine Yahoo’s storytelling experience." More tidbits right after the break...