| SAN FRANCISCO
SAN FRANCISCO Jan 22 Yahoo Inc said on
Tuesday it has bought "social news" start-up Snip.it, the latest
acquisition to be announced under Chief Executive Marissa Mayer.
Snip.it, a Pinterest-like service that allows news consumers
to clip, organize and share articles, was founded in 2011 by
Ramy Adeeb, previously an investor at Khosla Ventures.
In a 2012 interview, Adeeb, an Egyptian native, told Reuters
he conceived his start-up idea during the recent Egyptian
revolution, when he wanted to share articles about Middle East
politics but found Twitter to be inadequate because most of his
interactions with his Twitter followers were related only to
tech in Silicon Valley.
Terms of the deal, which was first reported by tech blog
AllThingsD, were not disclosed.
A former Google executive known for her interest in Silicon
Valley start-ups, Mayer took the helm at Yahoo in July and has
sought to revitalize the web property by snapping up fresh
talent and young companies.
In a company blog post, Snip.it said it would shut down its
current service but work on bringing "social news" to Yahoo,
without providing details.