Yahoo today announced it has acquired Qwiki, describing it as a company “that uses awesome technology” for storytelling by bringing together pictures, music, and video. Yahoo will continue to support the Qwiki app, but the team behind it will be moving to Yahoo’s New York city office.
For those who don’t know, the Qwiki app automatically takes pictures and videos that you already have on your iPhone and turns them into movies with transitions and a soundtrack. It is only available for Apple’s iOS, and now that Yahoo bought the startup, it’s unclear if the app will ever arrive on Google’s Android.
Yahoo did not disclose how much it paid for Qwiki, but estimates have been flying around for a while. All Things Digital estimated $40 million to $50 million, and it is sticking by that estimate.
To celebrate the news, the duo naturally put together a Qwiki:
Qwiki CEO and co-founder Doug Imbruce is unsurprisingly thrilled:
So excited to share news that @Qwiki will be part of the @Yahoo renaissance – a happy ending and new beginning… http://t.co/BtpoIXkOnU
— Doug Imbruce (@dougimbruce) July 2, 2013
Imbruce also posted a separate announcement regarding the news on the Qwiki blog, which Yahoo included in its post. The full release is as follows:
On a journey that took us from NYC to San Francisco and back again, the Qwiki team has spent the past few years creating products and technology that make it easy to share and discover stories.
It has been extremely rewarding having our products downloaded by millions, and watching the Qwiki community evolve and grow – especially via our most recent launch, Qwiki for iPhone. Seeing the stories that you share through the app inspires us every day.
Thank you for being a part of our story – one which is far from over. The Qwiki app will live on as a standalone entity inside Yahoo!, where we will grow our thriving community and where our team will continue to work to help you share life’s best experiences.
We are proud of the work we’ve done, and humbled by unwavering support from the NY tech community. New York is such a big part of who we are, and what we will become.
The Mayor’s office was kind enough to send over the following:
“Qwiki is a great example of the momentum in New York City’s booming tech sector,” said Mayor Michael R. Bloomberg. “While the company was started out west, they relocated here to be a part of our surging tech community… We congratulate them on their partnership with Yahoo!, and hope they continue to grow and thrive in New York City.”
We hope so too! This is so much more than a happy ending. It’s a beautiful new beginning. Yahoo!’s focus on our city is further inspiring.
On behalf of the Qwiki team, our sincerest appreciation to the investors, advisors, believers and USERS for helping us reach this outcome. We are so very grateful.
If you have any questions, tweet @Qwiki or email us via creators@qwiki.com.
Onwards & Upwards,
-Doug and the Qwiki Team
Top Image credit: Justin Sullivan/Getty Images
