Yahoo! buys scrapbook website Snip.itAgence France-Presse
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:Binay: Rich out to get me 36 mins elapsed Tobacco firm accused of ‘systemic fraud’ 58 mins elapsed BSP likely to keep key rates steady 1 hour elapsed JHud in a dancing mood 1 hour elapsed Moving dramas put Brad Pitt and Robert Downey Jr. through the wringer 1 hour elapsed Unfair to Lyca 1 hour elapsed It’s rainy in Eastern Visayas, Mindanao 2 hours elapsed Rain or Shine roars back to hand Blackwater second loss 4 hours elapsed