The spend-happy tech company nabs the startup for reportedly about $70 million, to help with content discovery.
August 2, 2013 10:40 AM PDT
(Credit: Yahoo)
Yahoo chief Marissa Mayer continued her fast-and-furious shopping spree Friday with the acquisition of Rockmelt, makers of a browser that specializes in deep social-media integration. Terms of the deal were not disclosed, but the 4-year-old startup said its apps will be shuttered at the end of the month.
"Yahoo and Rockmelt share a common goal: To help people discover the best content from around the Web," Rockmelt co-founders Tim Howes and Eric Vishria wrote on the company blog.
Kara Swisher at AllThingsD, citing sources, reported that Yahoo paid between $60 million and $70 million for Rockmelt. Though Rockmelt's apps will disappear August 31, Yahoo said it would integrate the company's technology into its products and services.
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Prior to the acquisition, Rockmelt had raised roughly $40 million in funding from notable backers including Andreessen Horowitz and Accel Partners, but it failed to gain significant consumer traction. The company said earlier this year that it had abandoned its desktop browser to focus on Web content discovery. Rockmelt had also made mobile a priority, and recently released an Android application for content consumption.
The Rockmelt buy is one of about 20 under Mayer, who took the helm at Yahoo a little more than one year ago. Mayer's most notable pickup was the $1.1 billion purchase of Tumblr, but her company has brought in a slew of new talent and technologies by acquiring small or underperforming startups such as Qwiki, Summly, Rondee, and Xobni.
August 2, 2013 10:40 AM PDT
Yahoo chief Marissa Mayer continued her fast-and-furious shopping spree Friday with the acquisition of Rockmelt, makers of a browser that specializes in deep social-media integration. Terms of the deal were not disclosed, but the 4-year-old startup said its apps will be shuttered at the end of the month.
"Yahoo and Rockmelt share a common goal: To help people discover the best content from around the Web," Rockmelt co-founders Tim Howes and Eric Vishria wrote on the company blog.
Kara Swisher at AllThingsD, citing sources, reported that Yahoo paid between $60 million and $70 million for Rockmelt. Though Rockmelt's apps will disappear August 31, Yahoo said it would integrate the company's technology into its products and services.
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Prior to the acquisition, Rockmelt had raised roughly $40 million in funding from notable backers including Andreessen Horowitz and Accel Partners, but it failed to gain significant consumer traction. The company said earlier this year that it had abandoned its desktop browser to focus on Web content discovery. Rockmelt had also made mobile a priority, and recently released an Android application for content consumption.
The Rockmelt buy is one of about 20 under Mayer, who took the helm at Yahoo a little more than one year ago. Mayer's most notable pickup was the $1.1 billion purchase of Tumblr, but her company has brought in a slew of new talent and technologies by acquiring small or underperforming startups such as Qwiki, Summly, Rondee, and Xobni.