The company was founded a little over a year ago by DreamWorks Animation, and headed by a former Dreamworks chief technology officer. Application Ptch allows creation of videos from smaller clips and photos, and according to the company's founder, the goal was to become a social network for video creators.

The service should stop running on 2nd of January when the whole team could join Yahoo. Financial and other terms of the deal were not disclosed.

[Ed - with some of the purchases we have to wonoder if Yahoo is planing a service to rival Google's YouTube, but with a more mobile focus... ]

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