Enjoy the Year of the Tiger and these deals with family and friends.

Yahoo has just announced its acquisition of Qwiki, a start-up company that created an iPhone app which lets users create short movies using photos, video clips and music tracks. The deal was said to be worth an estimated US$50 million.

Yahoo has announced yet another high profile acquisition of a mobile oriented startup. This time it's London based Summly, headed by 17-year-old entrepreneur Nick D'Aloisio, who started the company when he was 15.

There are unconfirmed reports that Yahoo might be in talks to purchase a major controlling stake in video sharing site, Dailymotion. If the deal goes through, it would be Yahoo CEO, Marissa Mayer's first major acquisition since taking over Yahoo.

Yahoo will be focusing more on mobile services, according to an internal memo written by Yahoo's CEO, Marissa Mayer. In the same memo, she also mentioned that Adam Cahan, a former National Geographic photographer, has been promoted and will be taking charge of Flickr.