Yahoo! buys scrapbook website Snip.it
SAN FRANCISCO – Yahoo! confirmed Tuesday that it bought Snip.it, a young San Francisco startup that lets people create scrapbooks with pictures, articles, videos and other content found online.
“The Snip.it team created an innovative technology that lets people share content in a social and fun way,” Yahoo! vice president of product Mike Kerns said in a statement emailed to AFP.
“Reading and sharing content is a core daily habit for most of the world, and we can’t wait to work with the Snip.it team to make that experience even more entertaining for our users.”
“For the past year and a half, we’ve worked tirelessly as a team to build the best social news platform on the Web,” Snip.it said in the message.
“We are thrilled at the opportunity to bring Snip.it‘s vision to a larger scale at Yahoo!”
Snip.it launched in late 2011 as a place where people could share digital “scrapbooks” based on topics or themes of their choosing.
Financial terms of the acquisition were not disclosed but unconfirmed online reports estimated the figure to be in the vicinity of $15 million.
Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94