Yahoo Looks To Boost Media And Mobile Properties With Rockmelt Acquisition
redOrbit Staff & Wire Reports – Your Universe Online
Specific terms of the deal were not disclosed, but AllThingsD cited sources close to the deal as saying Yahoo paid between $60 and $70 million to acquire the four-year-old startup.
Rockmelt said its apps and web product will be shut down at the end of the month, and encouraged users to export their data before August 31st.
“Yahoo and Rockmelt share a common goal: To help people discover the best content from around the Web,” wrote Rockmelt co-founders Tim Howes and Eric Vishria in a blog posting on Friday.
“Thirty-two Rockmelt employees have joined our media and mobile organization,” a Yahoo spokesperson told CNET.
“We aren’t going to discuss specifics, but we plan to integrate the Rockmelt technology into our media platform in order to deliver content in new and exciting ways.”
Prior to the Yahoo acquisition, Rockmelt had secured $40 million in funding from investors such as Andreessen Horowitz and Accel Partners. The startup originally launched as a standalone desktop browser company, but fell short of gaining broad consumer traction. Earlier this year, it announced it was shifting its focus to Web content discovery. It also had an emphasis on mobile, and recently released an Android app.
The Rockmelt acquisition is the 21st under Yahoo chief executive Marissa Mayer, who assumed her post a little more than a year ago.