DreamWorks-funded video startup Ptch acquired by Yahoo, will shut down next year

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Ptch, the video creation app launched last year by former DreamWorks CTO Ed Leonard, has been acquired by Yahoo. In a blog post on the service's website, the startup announced that it will soon be joining the Yahoo team, applying its skills to the company's own photo and video platforms. Consequently, the service will shut down on January 2nd.

While the announcement offered few specifics as to how the Ptch team will be leveraged after the acquisition, it can be assumed that they'll be involved in further improving Flickr's functionality. Flickr has enjoyed a resurgence in the past year under Marissa Mayer's stewardship, in the midst of ongoing acquisitions and hires to improve Yahoo's standing in the tech space. The company has stated that daily uploads to the service have increased sevenfold, and it recently announced a new option that lets users turn their photos into glossy real-world photo books. It's clear that Yahoo has every intention of competing with Facebook and Google in a very real way.

For now, however, Ptch users can download their "ptches" from ptch.com or directly to their Camera Rolls.

The Verge
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