Yahoo has bought Stamped, the New York City based startup that lets people record and share their favorite restaurants, books, movies, and music, we’ve confirmed with a source at Stamped. Update: The news has also been confirmed by Yahoo CEO Marissa Mayer, who posted an Instagram of herself with the Stamped founders.
The deal is part of a major mobile push led by Yahoo CEO Marissa Mayer. All of Stamped’s nine employees are joining the company, and are tasked with building a “major mobile development center” based in New York City that will focus on bringing much-needed coherence to Yahoo’s mobile strategy. The Stamped team is starting at Yahoo today and leading a big hiring push to staff up the NYC mobile office. The Stamped app as it exists today will be sunsetted by the end of the year.
This is certainly not the last deal we’ll see of this sort from Yahoo — we hear the company is on a major acquisition hunt for small startups with mobile expertise. In Yahoo’s earnings call this week, Mayer said that mobile was a big focus for the company, saying:
“Our top priority is a focused, coherent mobile strategy… at some point [in the near future] we’ll have to be a predominantly mobile company.”
This is not the first time that Stamped’s co-founder and CEO Robby Stein has worked with Mayer. Before starting Stamped he worked at Google as an associate product manager, a sort of executive grooming program for especially promising young employees that was led by Mayer.
Stamped took on $3 million in venture capital funding. We understand that Stamped’s employees and investors are very happy with the acquisition price.
Updating.
Source : feedproxy[dot]google[dot]com
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