by Christopher Freeburn | December 5, 2012 9:43 am
Yahoo (NASDAQ:YHOO) announced on Tuesday that it had acquired OnTheAir, a mobile online video chat service, for an undisclosed amount.
OnTheAir’s acquisition comes less than two months after Yahoo purchased mobile start-up Stamped. While the company is shuttering Stamped’s operations so that it can deploy its talent elsewhere, it did not say whether OnTheAir would continue operations, the Associated Press noted.
Some employees at OnTheAir previously worked for Google (NASDAQ:GOOG) and Apple (NASDAQ:AAPL) and other mobile service companies.
A Yahoo executive noted that the company is looking to acquire “talented mobile product thinkers and engineers” as part of its future strategy.
The purchase of OnTheAir marks another step by Yahoo’s new CEO Marissa Mayer to develop new content for mobile devices as she struggles to reassert Yahoo’s relevance in the rapidly changing online marketplace. Mayer was a senior executive at Google before joining Yahoo earlier this year.
Shares of Yahoo slipped fractionally in Wednesday morning trading.
Source URL: http://investorplace.com/2012/12/yahoo-snaps-up-yet-another-mobile-startup/
Short URL: http://invstplc.com/1nDr3gr
Copyright ©2015 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.