Yahoo (YHOO) has bought video creation app maker Qwiki. Kara Swisher, who first reported of...

|By:, SA News Editor

Yahoo (YHOO) has bought video creation app maker Qwiki. Kara Swisher, who first reported of Yahoo's interest in the startup (along with address book app startup Xobni), says the price tag is in the $40M-$50M range. In a departure from many recent acquisitions, Yahoo says it "will continue to support the Qwiki app," which allows users to quickly create movies out of pictures and videos on their devices.