April 26, 2011
Yahoo Acquires TV Sharing Company IntoNow
Yahoo announced on Monday a deal to acquire TV-sharing start-up company IntoNow as part of its plans to grow its social media presence and provide more information-sharing services.
Sunnyvale, Calif.-based Yahoo did not disclose how much it paid for IntoNow, which lets television viewers instantly share what they are watching with friends at Facebook or Twitter.
"We were all surprised to say the least but it makes a ton of sense and we're ready to rock," said IntoNow's seven-member team in a posting on the company's website.
IntoNow, which launched in January, offers a free software application that lets iPhones identify television shows being watched, and then shares the information at Facebook or Twitter.
Yahoo has been working to re-invent itself as a digital media company after being surpassed by Google in the online search market. The transformation includes Yahoo's Connected TV software, which works with television sets to link viewers to online content.
IntoNow created a platform that lets users "check-in" online within seconds to shows they are watching.
"IntoNow has built a unique way for people to engage with each other around the content they enjoy," said IntoNow CEO Adam Cahan.
"Companion applications and devices are changing the way we interact with TV in significant ways."
Yahoo said it plans to use IntoNow's technology to boost its online media and video offerings, and to make its services more social.
IntoNow's application is integrated with Facebook, Twitter, iTunes and Netflix.
"Relying on social channels as a means for discovering content -- whether it's on a PC, mobile device, or TV -- is rapidly on the rise," said Bill Shaughnessy, Yahoo's senior vice president of product management
"The IntoNow application the team has built clearly demonstrates the opportunities the technology presents across Yahoo's network, especially in regards to our video content, search, mobile and Connected TV experiences."
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