logo
Plus   Neg
Share
Email

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 RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Tens of thousands of casino workers in Las Vegas voted Tuesday to authorize a city-wide strike anytime after June 1 if labor contract agreements are not reached before they expire at the end of May. This would be the first strike in more than three decades in Las Vegas and could cripple the city's famed hospitality industry. Ten former and current employees of McDonald's Corp. have filed sexual harassment complaints with the federal government against the fast food giant. The women filed the complaints with the U.S. Equal Employment Opportunity Commission or EEOC and are receiving support from Fight for $15, which is organizing the effort. The TIME's UP Legal Defense Fund is covering legal fees for the women. A bill rolling back financial regulations implemented following the 2008 financial crisis is headed to President Donald Trump's desk for his signature after being approved by the House on Tuesday. The House voted 258 to 159 in favor of the Economic Growth, Regulatory Relief, and Consumer Protection...
Follow RTT