Yahoo must be trying to see how many acquisitions it can squeeze in before the new year. The company has now added Ptch to its roster.
Ptch, backed by DreamWorks Animation, was essentially an Instagram for video before Instagram had video. It launched in the summer of 2012, and the acquisition is probably good news for the company because I can't see it competing with the real Instagram (or Vine for that matter).
The product is shutting down, of course, and the team's efforts will be focused on improving Yahoo's products, much like with many of Yahoo's other recent acquisitions.
The Ptch team talks about the acquisition in a blog post:
We launched Ptch just over a year ago. Our passion and our mission was to give you the best way to make and share beautiful movies made from the photos and videos on your phone. Well, someone noticed!
Today, we’re excited to announce that Ptch will be joining Yahoo! As part of the Yahoo team, we’ll be able to focus our efforts and leverage our technology to make Yahoo’s photo and video platforms the best in the world.
This makes at least the 24th acquisition for Yahoo in 2013. Others include: Snip.it, Alike, Jybe, Summly, Astrid, GoPollGo, MileWise, Loki Studios, Tumblr, Playerscale, GhostBird Software, Rondee, Bignoggins, Qwiki, Xobni, Ztelic, Lexity, Rockmelt, IQ Engines, Hitpost, Bread, LookFlow and SkyPhrase.
We still have most of December to go. Maybe they can squeeze in a few more.
Ptch will shut down on January 2. You have until then to download your content if you're a user.