Yahoo has acquired San Francisco start-up Jumpcut, the online video editing company, for an undisclosed amount, we’ve just been told. (See here for more).

It could herald the beginning of consolidation in the video area, which has become filled with similar companies. Jumpcut’s video editing tools are based on Adobe’s “flash” technology. Jumpcut is different because it is a fully-featured video editor, which sits in the browser, and there’s nothing to download. With built-in flash technology, the editor lets you see everything you do immediately: changes in color, sharpening and so on. You can host your videos at the site, and pull in videos from other video editing companies — and of course, share them with all your friends.

Jumpcut raised an undisclosed amount of seed money from Westlake Venture Partners and Great Oaks Capital, and two individual “angel” investors, and was in the process of raising another round of capital when Yahoo came in with an offer.

We mentioned them here.

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