logo
Share SHARE
FONT-SIZE Plus   Neg

Yahoo Acquires Xobni

Internet giant Yahoo! Inc. (YHOO) recently announced the acquisition of email and address book management firm Xobni.

Financial details of the deal were not disclosed, but technology blog AllThingsD reported that Yahoo! paid $30 million to $40 million for Xobni, citing numerous sources close to the company.

"Did you ever meet someone who truly "gets" you? That's how we feel about Yahoo!. The power within every Xobni product is that it responds to how you communicate, Xobni said in a blog post while revealing the acquisition.

Xobni was founded in March 2006 by Adam Smith and Matt Brezina.

The deal is the latest in a series of acquisitions made by Yahoo since Marissa Mayer took over the reins of the company a year ago. Earlier this week, Yahoo said that it has acquired Qwiki Inc., a New York-based startup that makes a mobile app for creating videos on Apple Inc.'s (AAPL) iPhones. In June, Yahoo closed its $1.1 billion acquisition of New York-based social media network Tumblr

Under Mayer, Yahoo has also made a number of small acquisitions of apps and mobile startups such as Summly, Astrid, GoPollGo, MileWise and Loki Studios. The company recently acquired photography apps developer GhostBird Software.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Jeff Bezos, the CEO of Amazon, has overtaken Berkshire Hathaway's founder Warren Buffet to become the third-richest person in the world, according to the Bloomberg Billionaires Index. Bezos is now behind clothing retailer Zara's founder Amancio Ortega, who is now second, and Bill Gates, co-founder... The White House has announced new initiative to fight climate change, curb usage of fossil fuels and increase access to clean energy by pushing the use of electric vehicles. The Obama administration announced a series of actions from the Federal government, private sector, and states, as well as... Telecom giant Verizon Communications Inc. is reportedly very close to a deal to buy the core business of struggling internet company Yahoo Inc. Verizon has trumped out rival bidders and is close to acquire Yahoo's core internet business, reported Bloomberg News, citing people familiar with the matter. Verizon...
comments powered by Disqus
Follow RTT