Marissa Mayer’s First Acquisition at Yahoo Is Stamped
Yahoo has acquired mobile recommendations start-up Stamped; its team will join a brand new product and engineering office for Yahoo in New York.
It’s the first acquisition that Marissa Mayer has made as CEO, and it fits with her strategy: Making mostly smaller-scale deals that fall below $100 million and investing in mobile.
In a note on the company’s Web site, the founders of the team, which includes a handful of ex-Googlers, said: “We’re excited to start work again on something big, mobile, and new — but we can’t discuss the details just yet. And we’re really stoked to be able to hire lots of talented engineers and designers for this new project. If you’re interested in joining us, send us an email.”
The idea behind the year-and-a-half-old company was to create a new kind of review site that allowed people to discover and share their favorite things to read, listen to or eat. The founders said that as a result of the acquisition, it will be discontinuing the Stamped product by the end of the year.
Terms of the deal weren’t disclosed, but we can assume it was pretty small. The company’s investors include: David Hirsch (Metamorphic Ventures), The New York Times Company, Eric Schmidt, Crunchfund, Metamorphic Ventures, Brian Lee, Ellen DeGeneres, Justin Bieber, Ryan Seacrest, Columbia Records and others.