Yahoo acquires video streaming startup QuikIO

Yahoo has acquired cross-platform video streaming app called QuikIO.

In a farewell note to its users, the company said that after December 31, the "FedEx of media files" would be shut down.

Yahoo spokesperson confirmed that three employees from QuikIO have joined Yahoo's video team in Sunnyvale.

The spokesperson added that they were excited to welcome the team to Yahoo, but did not comment further on the deal terms or future plans, Pandodaily reports.

QuikIO has joined a host of other startups in those categories that have been acquired under Marissa Mayer's leadership, including Evntlive, Ptch, Qwiki, and OnTheAir, the report added.