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
Chinese electric vehicle start-up Nio has launched the NIO ES8, a seven-seater electric SUV, at about half the price of Tesla's Model X. The ES8 is Nio's first mass-produced model for the China market. Founded in 2014, Nio unveiled the ES8 in Beijing on Saturday at a base price of 448,000 yuan, or $68,947, before subsidies. This is only about half the price for Tesla's Model X. Bitcoin futures started trading on the world's largest futures exchange, CME Group Sunday, a week after the launch of the very first bitcoin futures on CBOE. CME's own bitcoin futures contract started trading under the ticker "BTC", with the sale price for its January 2018 contracts opening at $20,650. HEICO Corp. (HEI) and Worthington Industries Inc. (WOR) are slated to release their quarterly results on December 18, 2017.
comments powered by Disqus
Follow RTT