Yahoo buys Xobni for smarter email
Yahoo has bought email and address book management app Xobni, its third acquisition in as many days as it seeks to revamp its online products and boost traffic.
Yahoo said it will integrate Xobni’s technology into its communications products, including the mobile and PC versions of its email and instant messaging services.
Yahoo did not disclose the financial terms of the deal, but reports peg the figure between $30 million to $40 million. Yahoo said that 31 Xobni employees will be joining Yahoo, including CEO Jeff Bonforte, who has previously worked at Yahoo.
Xobni’s will keep running for existing users for the next year, with no major service changes until 2 July 2014. It has stopped selling premium accounts and is no longer allowing app downloads, but any already installed will continue to work.
The deal is the latest in a string of acquisitions by Yahoo since Marissa Mayer became chief executive a year ago, vowing to boost traffic to Yahoo’s online services and to revive the company’s stagnant revenue growth. The company has acquired more than a dozen startups during the past year, focusing particularly on adding mobile technology and services.
Yahoo also acquired Qwiki this week, a mobile app that creates mini-movies using a consumer’s collection of photos and videos. It also bought Bignoggins, a mobile app to help players of fantasy sports teams.
Last month, the firm closed its $1.1 billion acquisition of blogging service Tumblr, the largest deal by Mayer to date.