Report: Yahoo scoops up contact management apps maker Xobni for $70M
Yahoo has acquired Xobni, which offers the Smartr Contacts address book apps for Apple's (NASDAQ:AAPL) iOS and Google's (NASDAQ:GOOG) Android as well as contact management tools supporting platforms like Yahoo Mail, Google's Gmail and Apple's iCloud.
Xobni (backwards for "inbox") confirmed the acquisition on its blog. Financial terms were not disclosed, although insiders told media outlets including Bloomberg and TechCrunch that the deal is valued around $70 million, including incentive-based compensation for Xobni shareholders. The seven-year-old startup raised about $42 million from investors including First Round Capital, Khosla Ventures, RRE Ventures, Baseline Ventures, RBC Venture Partners and Relay Ventures.
While Yahoo typically shuts down its smaller acquisitions, it will continue to support existing Xobni and Smartr Contacts users through July 2, 2014. Smartr Contacts for iOS remains available for download, although the Android and BlackBerry (NASDAQ:BBRY) versions have been removed from their respective app stores. "Soon you'll be able to use Yahoo products with Xobni goodness baked right in," Xobni said on its blog.
Yahoo has been on a spending spree since former Google exec Marissa Mayer took over as CEO in mid-2012: This week alone, the company has also scooped up mobile video application developer Qwiki and fantasy sports apps maker Bignoggins. In recent months, Yahoo has additionally purchased social networking platform Tumblr for $1.1 billion in cash, as well as mobile-focused startups including Summly, Jybe, Alike, Stamped, Astrid and GhostBird Software.
Mobile is one of Mayer's four key focus areas, alongside search, display and video. Researcher Onavo Insights reports apps like Yahoo, Yahoo Mail, Yahoo Weather and Flickr all posted significant user gains in May 2013, indicating Mayer's aggressive mobile push is paying dividends.
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