Yahoo! has just announced it's purchase (for an undisclosed sum) of the online video editing website, JumpCut.
JumpCut was started by Mike Folgner, a Standford MBA school student launched in in April, after writing a business plan in November and securing $1MM in seed funding. His approach: secure partnerships with major networks and corporations, which included Fox Atomic and Warner Independent Pictures and on his way to securing partnerships with Blogger (Google product), eBay and TypePad.
Congrats!!! I wonder what's next for Mr. Folgner. The entrepreneur bug rarely bites once. :)
For more information, read the article.
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