Yahoo acquires Rockmelt, will shut down mobile apps this month
Yahoo continued its acquisition spree by scooping up social browsing startup Rockmelt. Financial terms were not announced, although AllThingsD reports the deal is valued between $60 million and $70 million.
Founded in 2009 by CEO Eric Vishria and CTO Tim Howes, Rockmelt's browser technologies deliver personalized newsfeeds aggregating social networking activity like Facebook (NASDAQ:FB) chat, Twitter notifications and YouTube video shares. Rockmelt for PC and Mac launched in private beta in late 2010, expanding to Apple's (NASDAQ:AAPL) iOS in late 2011 and arriving on Google's (NASDAQ:GOOG) Android this June. The startup has also raised $40 million from investors including Accel Partners, Andreessen Horowitz and Khosla Ventures.
Yahoo plans to integrate Rockmelt's browser technologies across its properties, with Howes leading engineering across the company's mobile products and Vishria appointed vice president of media products. Yahoo will shut down Rockmelt's standalone applications and Web services on Aug. 31. "In each of our products, you'll find a tile to click on that initiates the export service," Rockmelt said. "Your kept items will be exported as bookmarks and the feeds you follow as an OPML file."
Yahoo now welcomes 340 million mobile users each month, increasing from 300 million in April and 200 million at the close of 2012, CEO Marissa Mayer revealed during the company's second quarter earnings call last month. Mayer credited Yahoo's mobile gains in part to its aggressive M&A strategy: In recent months, the company has snapped up a number of mobile startups including Summly, Jybe, Alike, Stamped, Astrid, GhostBird Software and Qwiki. The company also purchased social network Tumblr for $1.1 billion.
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