Yahoo continued its spending spree by scooping up Qwiki, a startup developer whose iPhone application lets users produce short films by automatically converting their photos, music and videos, the Internet company announced Tuesday. But unlike many of its other recent purchases, Yahoo will keep the brand and the product intact. "We 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," Yahoo said in a blog post.

Related Summaries