Intending to mark its presence in mobile device (smartphones and tablets) market, Yahoo has reportedly brought a mobile app Qwiki for creating videos in Apple's iPhone. If reports are to be believed, Yahoo has spent about $50 million for its latest deal.
As per the latest update, Qwiki's employees will now move to Yahoo's New York offices.
Market reviewers added that the latest deal is Yahoo's third acquisition since May. First, it bought Tumblr, which is a microblogging platform and social networking website which allows users to post multimedia and other content to a short-form blog, for $1.1 billion. Earlier this week, Yahoo acquired a mobile app developing company Bignoggins Productions.
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