Yahoo Paid Between $35M and $40M for Lexity E-Commerce App Platform
According to sources close to the situation, Yahoo forked over between $35 million and $40 million in cash to buy Lexity, the e-commerce app platform startup. (The companies had declined to outline terms of the deal, so I decided I would.) AllThingsD reported last week that the Silicon Valley Internet giant was interested in acquiring Lexity, which was founded and is led by a well-regarded former Yahoo exec, Amit Kumar. Lexity said the service would continue to run, but eventually under new Yahoo branding. Before the acquisition, Lexity had raised close to $6 million from a range of investors.