Yahoo buys Jumpcut

GigaOM published this recently. There weren’t a lot of comments because Jumpcut was just a few months old and a relative unknown in the video arena. (Youtube sucking all the free PR!) Here’s what Liz had to say:

When I met Jumpcut earlier this summer, they had 11 employees, had raised $1 million in seed money, and were trying to close another round. Perhaps it has to do with Jumpcut’s fairly advanced experimentation with Flash, led by former Macromedia developer Ryan Cunningham.

When I proposed buying Jumpcut might be a good competitive edge for one of the online video sharing sites or portals, CEO Mike Folgner told me he’d wasn’t looking to settle down with just one company, rather to build partnerships with everybody. Ah well…I can understand how a Yahoo acquisition offer could be persuasive.

Guess she’s right. Only problem is once Yahoo buys you there isn’t much AGILE development anymore. There’s some internal competition to boot. UC Berkley and Yahoo have already been developing a their own video mashup site. I guess they simply want to take Jumpcut off the market before Google buys them. Or, God forbid they become a real hit like Youtube!