Yahoo has acquired the cross-platform video streaming app, QuikIO, according to Pando.com.
The site received an email from Quik indicating the service would be shutdown after December 31st. When contacting the founder and CEO Michael Chen about the shutdown their inquiry was forward to Yahoo public relations.
“I can confirm that three employees from QuikIO have joined Yahoo’s video team in Sunnyvale,” said a Yahoo spokesperson. “We’re excited to welcome the team to Yahoo and aren’t going to comment further on deal terms or future plans.”
So far no details about the deal have been divulged; however, it's likely an acqui-hire.
Both CEO Chen, a VoIP expert who left a manager role at Cisco to start the company, and QuikIO cofounder and VP of engineering Xumin Wu, another Cisco alum, have updated their LinkedIn profiles to reflect their new place of employment. We don’t know who the third new Yahooer is, but it’s apparently not QuikIO’s third founder, Budi Sutardja, another Cisco veteran, who had already left the company.
You can still download QuikIO from the App Store for free.
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