Yahoo Continues Start-up Buying Spree With QuickIO
Is Yahoo (NASDAQ: YHOO) setting some sort of record for number of company acquisitions made in a year?
WebProNews, calculates the QuikIO deal is at least the 24th acquisition made by this year by Yahoo – which just last week bought Ptch, another video streaming start-up, and is reported to be in talks to purchase Imgur, the online image hosting service.
According to Pando.com, the internet giant has purchased QuikIO, a cross-platform video streaming app that described itself as the “Fedex of media files.”
For its part, QuikIO has a farewell note up on its web site, thanking its users and saying the service will be shut down at the end of the year.
“I can confirm that three employees from QuikIO have joined Yahoo’s video team in Sunnyvale,” an unnamed Yahoo spokesperson reportedly told Pando via email. “We’re excited to welcome the team to Yahoo and aren’t going to comment further on deal terms or future plans.”
Yahoo CEO and former Google executive Marissa Mayer has been making headlines since joining the company last year, for her changes in company policy while shaking up Yahoo's previously bland brand reputation through some headline-making deals.
The company acquired the blogging site Tumblr this past May for $1.1 billion. And, just last month, Yahoo announced television personality Katie Couric would be joining them as a “Global Anchor” – to help develop an online interview program.
According to a new and lengthy profile of Mayer in Vanity Fair, the market value of Yahoo's stock has risen by $14 billion under her leadership. But investors are apparently still taking a cautious approach.
“The media cares about Yahoo itself,” analyst Ben Schachter, who covers Yahoo for Macquarie Securities, told the magazine. “But the vast majority of Wall Street institutional investors are not focused on Yahoo [meaning its core business] at all.”
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