![]() Seven weeks after launch, the Qwiki App was downloaded over 500,000 times. The application has an additional feature not present in the web version that lets the user browse Google Maps which displays Qwiki annotations at certain points linked to content relevant to those locations. In April 2011 Qwiki released an iPad App version of its service. In March 2011, Qwiki raised an additional $1 million from Groupon and Lightbank co-founders Brad Keywell and Eric Lefkofsky, bringing the total raised to date to $10.5 million. On January 24, 2011, Qwiki launched its public alpha. The individual investor syndicate was arranged by New York City-based Felix Investments. Institutional investors included Lerer Media Ventures, Tugboat Ventures and Contour Venture Partners. Other investors included Jawed Karim (co-founder, YouTube) and Pradeep Sindhu (co-founder, Juniper Networks). In January 2011, Qwiki raised $8 million in Series A financing, a round that was led primarily by Facebook co-founder Eduardo Saverin. Soon after Google offered to buy Qwiki for $100-150 million which it declined. Qwiki launched in alpha testing mode on Janu after winning the TechCrunch Disrupt Award in 2010. Qwiki was acquired by Yahoo! on Jfor a reported $50 million. are Louis Monier (founder of the AltaVista search engine) and Doug Imbruce. The company's investors include cofounders of Facebook, YouTube and Groupon. ![]() named Qwiki one of “10 NYC Startups to Watch” for 2013. The company's initial product, an iPad application that created video summaries of over 3 million search terms, was downloaded more than 3 million times and named by Apple as the best "Search and Reference" application of 2011.Īfter integrating this technology in the Bing search engine and launching video creation tools for major publishers in cooperation with ABC News, the company launched Qwiki for iPhone, which received Apple's Editor's Choice and was mentioned as an Honoree in the 2013 Webby's in two categories. Qwiki released an iPhone app that automatically turns the pictures and videos from a user's camera roll into movies to share. Yahoo has been recently on an acquiring spree with small companies but Tumblr being the only exception of large-scale company priced at a whopping 1.1 billion dollars.Īnalysts indicate that Yahoo’s recent acquisitions of smaller companies and large scale company like Tumblr are aimed at reinforcing Yahoo’s mobile and media pushes, the report added.Qwiki was a New York City based startup automated video production company. The report said that Yahoo is speculated to have paid around 40 to 50 million dollars for Qwiki. Yahoo said that it will continue to support Qwiki app and their team will join Yahoo’s New York city office to reimagine Yahoo’s story telling experience. ![]() Qwiki CEO Doug Imbruce said that Qwiki will remain an independent app like Tumblr within Yahoo and continue to grow their thriving community and help create better user experience, ABC News reports.Īccording to the report, Qwiki is an iPhone app that allows users to gather photos, short video clips and other multimedia and create a short, easily-shareable video clips. Internet Corporation Yahoo has added Qwiki, a video-sharing app to its list of recent acquisitions of technology companies. ![]()
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