Yahoo acquires mobile app created by former employees
SAN FRANCISCO (Reuters) - Yahoo Inc acquired a small mobile start-up company that was founded by former employees of the struggling Web portal two years ago.
Yahoo did not disclose the price of its deal to acquire Jybe, which developed a mobile app that recommends movies, books and restaurants based on data contained in social networks.
Yahoo said it would shut down the Jybe service, while five Jybe engineers and data scientists, all ex-Yahoo staffers, would focus on Yahoo's efforts to bolster its product line-up.
Since Marissa Mayer became Yahoo chief executive in July she has made several small, so-called acqui-hires, similar to the Jybe deal, that have brought small teams of software engineers focused on mobile products to Yahoo. Wednesday's deal comes amid media reports that Yahoo is also in talks to acquire a controlling stake in video website Dailymotion from France Telecom-Orange, which would represent Mayer's biggest deal to date.
Shares of Yahoo were off 15 cents at $22.02 in midday trading on Wednesday.
(Reporting By Alexei Oreskovic; editing by Gunna Dickson)
- Protesters fell Lenin statue, tell Ukraine's president 'you're next'
- Four dead in apparent Connecticut murder-suicide
- South Korea expands air defense zone to partially overlap China's |
- Singer Susan Boyle reveals she has Asperger's syndrome: paper
- Winter storm pushes up U.S. East Coast after deep-freeze in the South
Nelson Mandela: 1918 - 2013
Reuters looks at the life and times of Nelson Mandela, an icon of peace and reconciliation who came to embody the struggle for justice around the world. Video