NEW YORK (Reuters) - Yahoo Inc said on Wednesday it has bought Xoopit, a privately-held company that provides technology to organize photograph collections in Yahoo’s e-mail system.
Xoopit’s technology helps in the sending and sharing of photos through e-mail and enables users organize their inboxes as photo indexes, Bryan Lamkin, Yahoo’s senior vice president for applications, wrote on its official blog.
While Yahoo did not disclose the price tag, technology blog All Things Digital said the deal was worth $20 million, citing sources.
Yahoo’s relationship with Xoopit began in December with the launch of the “My Photos” application in Yahoo! Mail.
On Tuesday, Yahoo said its revenue from search advertising fell 15 percent from the year-ago quarter.
Reporting by Phil Wahba; Editing by Valerie Lee