![]() ![]() The Bignoggins transaction does not affect Yahoo!’s accounts, but is an achievement for the Bignoggins founder, Jerry Shen. Part of those funds was used to finance Yahoo’s $1.1 billion acquisition of blogging service Tumblr. The price paid for Silicon Valley-based Bignoggins was not disclosed either, but analysts interpreted it as a sign that it was a very low amount that would not have a relevant impact on the bottom line of the company, which closed March with $5.4 million in cash. ![]() The developer of mobile games for fantasy sports league players was Yahoo!’s first acquisition of the week. Helming Qwiki are Doug Imbruce, CEO and co-founder, and Louis Monier, the other company co-founder, who also founded the AltaVista search site before leaving the company in 2011. Yahoo! is committed to further developing the Qwiki app when the application’s development team is integrated into the company’s New York office. “The Qwiki app quickly and automatically converts the images and videos you already have on your iPhone into beautiful clips you can share, adding transitions and a soundtrack.” “Have you ever heard an old song that suddenly brings to mind a favorite holiday, concert, or summer memory?” asked Yahoo! on its blog when announcing the acquisition. Yahoo! did not disclose the amount paid, highlighting instead the excitement the application will bring to its users. According to technology blog AllThingsD, the purchase price was $40 to $50 million. Yahoo! said Xobni’s 31 employees will stay on at the company, including CEO Jeff Bonforte, who was previously at Yahoo! QwikiĪcquired on Tuesday by the Mayer team, this emerging company has developed a movie application for smartphones with the technology to converts videos and photos stored on iPhones into movie clips with music soundtracks. The company did not disclose the financial terms of the acquisition, but technology blog AllThingsD reported the purchase price at an estimated $30 to $40 million. Yahoo! said that it plans to integrate the app’s technology into its own products, including versions of its email and instant messaging services for mobiles and PCs. Just last month, Yahoo! closed its $1.1 billion acquisition of blogging service Tumblr, the largest deal Mayer has completed to date. Yahoo, which has about 11,000 employees, has since then acquired more than a dozen small businesses, focusing on adding technology and services for smartphones and tablets. These acquisitions are now part of the shopping spree started by ex-Google executive Marissa Mayer, who became Yahoo Inc.’s CEO in 2012, in an effort to increase the company’s online services traffic and revive stagnant revenue growth. The companies acquired are Xobni, the email and address book application Qwiki, the mobile application that creates mini-movies with the user’s own photos and videos and Bignoggins Productions, a developer of mobile games for fantasy sports league players. The first week of July has been a busy one for Yahoo Inc., which closed deals to purchase three companies in as many days. ![]()
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