The Mobile App Yahoo May Be Targeting Next

Summly would fit into Marissa Mayer's mobile expansion plans

   

The Mobile App Yahoo May Be Targeting Next

yahoo building 630 300x235 The Mobile App Yahoo May Be Targeting NextYahoo (NASDAQ:YHOO) may be looking to snap up another social media startup.

Unnamed sources told AllThingsD that Yahoo is conducting due diligence on Summly, a news summarizing app created by Nick D’Aloisio, a 17-year old Briton.

yahoo sign 630 200x200 The Mobile App Yahoo May Be Targeting Next
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Summly is reportedly negotiating with potential investors to obtain a new round of financing. The app, for devices running Apple‘s (NASDAQ:AAPL) iOS, has been downloaded 500,000 times. The company has also struck content deals with News Corp. (NASDAQ:NWSA).

Discussions between Yahoo and Summly are in the preliminary stages and no offer has yet been made. However, acquiring the trendy start-up would fit with Yahoo CEO Marissa Mayer’s strategy of rising young talent to build out its mobile development team.

Earlier this month, Yahoo acquired OnTheAir, a mobile online video chat service. Just two months earlier, it acquired Stamped, another mobile start-up.

Shares of Yahoo slipped fractionally in Monday morning trading.


Article printed from InvestorPlace Media, http://investorplace.com/2012/12/the-mobile-app-yahoo-may-be-targeting-next/.

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