Yahoo Buys Mobile Video App Company
Yahoo has purchased Qwiki, a company offering an eponymous video app for iOS. The app works much like HTC's Video Highlights, automatically stitching together a series of videos and photos into a short video clip summary of a trip or event. Qwiki also includes a video sharing service, giving Yahoo a potential competitor to Vine and Instagram.
Late but gamechanger for Yahoo
By the way we at Endeavour have also developed a similar offering for storytelling on mobile, known as KiCube.
Besides that, you are right. Fail.