Yahoo snaps up Jybe, shuts down recommendation app
Yahoo has acquired Jybe, a personalized recommendation engine founded in 2011 by five ex-Yahoo employees. Financial terms of the deal were not disclosed.
Jybe, optimized for Apple's (NASDAQ:AAPL) iOS platform, offered users tips on local events, restaurants and movies based on their personal interests as well as subjects trending within their social circle. Former Yahoo Search Technology Vice President Arnab Bhattacharjee launched the startup in partnership with other erstwhile members of Yahoo's Search and Hadoop teams.
"We will be closing down the Jybe service, but we are putting together a tool so you can download and keep all your data," Jybe said. "We're eager to start applying everything we've learned and built to the Yahoo platform, so stay tuned."
Jybe is the latest in a series of acquisitions Yahoo has made in the months since ex-Google (NASDAQ:GOOG) executive Marissa Mayer took over as CEO. Other acquisitions include Stamped, Snip.it and OnTheAir. Just last month, Yahoo also scooped up Alike, another mobile app developed to help users discover nearby venues and places to visit. Yahoo shuttered Alike's iPhone and Web apps as well.
Speaking at February's Goldman Sachs' Technology and Internet conference, Mayer said Yahoo plans to refocus on a dozen or so apps that people access frequently, rather than a large number of apps that might not get much use. At present, the company counts 200 million mobile monthly active users spread across 60 to 75 different applications, but Mayer said consumers would ideally make use of two to four signature Yahoo mobile apps.
Mayer is looking to mobile to rekindle growth in Yahoo's userbase. "I think the opportunity for growth (in mobile) is very fundamentally one of the things that drew me to Yahoo," she said, according to The Wall Street Journal. "When you think about mobile... When you see triple-digit growth in some areas, there's a big opportunity for growth. Yahoo has the content that people want on their phone."
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