by William White | June 18, 2013 2:12 pm
Yahoo (YHOO) has been doing a lot of buying ever since its new CEO Marissa Mayer took hold of the company last year, and it appears it will be doing more soon.
One of these is Xobni. (Yes, that is “inbox” spelled backward.) Xobni CEO Jeff Bonforte is no stranger to Yahoo — he was previously Yahoo’s VP of social search and real-time communications. Xobni is being offered somewhere between $30 and $40 million to throw its cards in with Yahoo.
The second startup being eyed by Yahoo is Qwiki, a New York-based firm that makes an iPhone app offering video editing on the go. The reported amount being offered to Qwiki to join up with Yahoo is $50 million.
Yahoo is likely using the mergers and acquisitions of these small startup companies as a way to bring fresh talent into the company.
Investors were apathetic about the reports, however. YHOO stock was up only fractionally as of midday Tuesday.
Source URL: http://investorplace.com/2013/06/yahoo-adds-2-more-startups-to-its-shopping-list/
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