Yahoo Acquires Summly
Today Yahoo has announced the acquisition of mobile news gathering and delivery startup Summly. The acquisition price was was somewhere close to $30 million, as reported earlier by AllThingsD. Prior to the acquisition the the company had raised $1.53 million from the likes of: Horizons Ventures, betaworks, Shakil Khan, Matt Mullenweg, Troy Carter and even Yoko Ono. Additionally, Summly was working with News Corp on summarizing their content. A Yahoo spokesperson said that, “the entire Summly team is joining the company in the next few weeks and that the app itself will close,” which makes this both an acqui-hire and acquistion. “The Summly service will be woven into of Yahoo’s mobile experience,” added Yahoo. No idea what Summly is? Check this out. Adam Cahan, Yahoo SVP of Mobile and Emerging Products shared on the company’s blog, “Today, we’re excited to share that we’re acquiring Summly, a mobile product company founded with a vision to simplify the way we get information, making it faster, easier and more concise. At...
Read More