Yahoo! Acquires Qwiki As Mayer's Quest To Bag Advertisers Continues

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Yahoo! has moved quickly to snap up yet another popular app, with the Internet giant purchasing Qwiki for a reported $50m.

On the Yahoo! Tumblr blog it said "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."

Current Yahoo! CEO, Marissa Mayer, has been on a crusade to move the firm away from its search engine focus to delve instead into more social and mobile offerings.

With Google being such a colossus on the Net, and Facebook equally bossing the social networking scene, it has been harder for the firm to draw the digital marketing experts and advertisers - where Yahoo! makes much of its revenue - away from the prominent search engine and social network site.

Instead, Mayer has looked to rope in advertisers with a host of acquisitions including  Tumblr and the app designed by young British entrepreneur Nick D'Aloisio, Summly. It has also gone about revamping its Flikr service, the photo-sharing site it acquired back in 2005 for a reported $35m.

Qwiki allows users to generate movies from pictures and videos through its automated video production app. It initially launched in 2009 as a multimedia search offering, but recently look to move in a different direction to its initial offering, instead opting for the movie based iPhone app.

Its old iPad app, which created video summaries of search terms and offered users other video-creation tools, was downloaded more than three million times and named as Apple's best Search and Reference app in 2011.

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