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.
Recent Stories:Ateneans to the aid of typhoon victims 2 hours elapsed Vice Ganda on Anne Curtis, Sotto’s drug-test proposal 3 hours elapsed Light of hope for rich, poor 3 hours elapsed Share, heal, forgive, love 3 hours elapsed Asian shares lower on Fed tapering concerns 3 hours elapsed De Lima orders NBI to investigate killings of 3 journalists 3 hours elapsed Study: Hormone-blocker slashes breast cancer risk 4 hours elapsed Globe nominations for musical or comedy film 4 hours elapsed