Yahoo (YHOO +1.1%) is looking to buy address book app developer Xobni for $30M-$40M, and video...

|By:, SA News Editor

Yahoo (YHOO +1.1%) is looking to buy address book app developer Xobni for $30M-$40M, and video creation app developer Qwiki for $50M, Kara Swisher reports. Xobni, reported to be on Yahoo's shopping list earlier in June, is said to consider Yahoo "the most natural home for it, given its strong e-mail offerings." Qwiki originally built a site and iPad app that automatically created multimedia "stories" for reference topics (a deal was reached with Yahoo partner Bing), but has since shifted its attention to an app for creating movies out of a user's photos and videos. Regardless, its video automation tech likely intrigues a company that just bought Summly.