Doug Imbruce, Qwiki chief executive officer (CEO), said they will keep operating as a standalone entity inside Yahoo! but its employees will have to move to Yahoo’s offices in New York.
This is unlike other startup purchases by the company.
“The Qwiki app will live on as a standalone entity inside Yahoo!, where we will grow our thriving community and where our team will continue to work to help you share life’s best experiences,” said Imbruce.
On their official blog Yahoo! said: “We’re excited to announce that Yahoo! acquired Qwiki - a company that uses awesome technology to bring together pictures, music and video to capture the art of storytelling.”
It added: “Sharing a Qwiki is easy, whether you want to share your favorite moments from Coachella with your Facebook friends or celebrate the best moments from your sister’s wedding.”
Neither Yahoo! nor Qwiki’s have revealed how much the acquisition cost.
Yahoo! has been on a buying spree since Marissa Mayer became the new CEO and have brought in 15 companies including Tumblr, Jybe, Summly and Bignoggins Productions.