Yahoo Buys Mobile App-Maker Qwiki

Before you go, we thought you'd like these...
Before you go close icon
yahoo buys qwiki marissa mayer ceo internet technology apps iphone apple
Emmanuel Dunand, AFP/Getty ImagesYahoo CEO Marissa Mayer
By Avik Das

Yahoo has agreed to buy Qwiki, a mobile app for creating videos on Apple's (AAPL) iPhone, as the Internet company tries to increase its presence in the world of smartphones and tablets.

Yahoo (YHOO) paid about $50 million for the deal, tech blog AllThingsD cited sources as saying. Terms of the deal, however, weren't disclosed.

This is Yahoo's third acquisition since May when it bought blogging service Tumblr for $1.1 billion in cash. Earlier this week, the company reportedly acquired Bignoggins Productions, another mobile app developer.

Yahoo has seen its revenue shrink in recent years in the face of competition from Google (GOOG) and Facebook (FB), but since she took charge in 2012 CEO Marissa Mayer has tried to turn the tide through a string of acquisitions.

Qwiki's app would continue to be supported by Yahoo and its employees would move to Yahoo's New York offices.

Yahoo ended Tuesday trading on the Nasdaq at $24.99.

Yahoo! Buys iOS Video App Qwiki
5 Best Apps to Invest Smarter
See Gallery
Yahoo Buys Mobile App-Maker Qwiki

The promise: Offers customizable, themed portfolios of up to 30 stocks.
Price: Free
Available on: Website, iPhone

Motif lets you invest in a very narrow sector -- say, clean tech or companies tied to the housing rebound -- using one of 90 themed portfolios. The site requires a $250 minimum and charges a commission of $9.95 per portfolio.

You wouldn't want to use Motif for your retirement fund, but it's a fun way to invest your mad money if you play the market. The service could also be a good introduction to investing for novices, says MIT finance professor Andrew Lo.

The promise: Puts your investment data on a single dashboard and recommends ways to optimize your portfolio.
Price: Free
Available on: Website, iPhone, Android

This site-and-app combo syncs with more than 90 brokerages to track your 401(k), IRA, and stock market investments.

You can also see charts breaking down your asset allocation and risk level.

What really sets SigFig apart from other investing tools, though, is that the service checks your portfolio weekly for hidden fees, overcharges, and underperforming funds, and suggests alternatives.

The promise: Tracks and analyzes your investment, bank, and credit card accounts. App allows you to make payments and transfers.
Price: Free
Available on: Website, iPhone, Android

Best for investing and budget

By combining money management tools with a full listing of your investment accounts, Personal Capital provides a broad financial picture in a single application, says Jim Breune, editor of, which covers online financial tools.

Personal Capital offers fee-based financial advice, but you don't need to buy in to use its website and mobile app.

Follow your investments in real time with an app.

Mobile offerings vary by brokerage (Fidelity's version is still the most downloaded), but most also let you check news and quotes, says Brett DiDonato of

Price: Free
Available on: iPhone, Android, BlackBerry, Windows Phone

A treasure trove of financial info. Track your investments in real time or use interactive charts to get more detailed data about their performance.
Read Full Story

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

People are Reading