Yahoo’s Snip.it Acquisition: is it really a smart move?
Kudos to Marissa Mayer for trying to revitalize struggling Internet search pioneer Yahoo!. The Search engine provider Yahoo! Inc has acquired social bookmarking service Snip.it
Yahoo’s “social news/social bookmarking” start-up Snip.it Acquisition: is it really a smart move? Discuss in the comments below.
Snip.it, a Pinterest-like service that encourages users to create, organize and share collections of news articles on the Internet.
It was founded in 2011 by Ramy Adeeb, previously an investor at Khosla Ventures.
In a company blog post, the San Francisco-based startup, Snip.it said it would shut down its current service but work on bringing “social news” to Yahoo. 9 out of Snip.it’s 10-person team will join Yahoo where they will develop the company’s social news program.
“The Snip.it team created an innovative technology that lets people share content in a social and fun way,” Mike Kerns, Yahoo’s vice president of product, said in an email statement. “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.”