Yahoo Plans to Take Fantasy Sports to the Next Level

by Christopher Freeburn | July 2, 2013 9:58 am

yahoo sign 630 300x225 Yahoo Plans to Take Fantasy Sports to the Next Level[1]On Monday, Yahoo (YHOO[2]) announced that it has purchased[3] Bignoggins, a mobile app startup.

Terms of the deal were not announced. Bignoggins was founded by former software engineer Jerry Shen to develop mobile apps catering to fantasy sports fans. Shen will now join Yahoo’s mobile engineering division, the Associated Press notes.

As with many other mobile app startup acquisitions, Bignoggins’ apps, which include the popular Fantasy Monster and Draft Monster, will be discontinued.

The purchase of Bignoggins is part of Yahoo CEO Marissa Mayer’s effort to increase the company’s presence in the mobile app business[4].

In May, Yahoo spent $1.1 billion to acquire blogging platform Tumblr[5].

Shares of Yahoo climbed almost 1% in Tuesday morning trading.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/11/yahoo-sign-630.jpg
  2. YHOO: http://studio-5.financialcontent.com/investplace/quote?Symbol=YHOO
  3. that it has purchased: http://www.usatoday.com/story/money/business/2013/07/01/yahoo-buys-bignoggins-for-more-bright-ideas/2481161/
  4. increase the company’s presence in the mobile app business: http://investorplace.com/2012/10/yahoo-is-drinking-the-mobile-kool-aid/
  5. to acquire blogging platform Tumblr: http://investorplace.com/2013/05/mayer-gives-yahoo-a-shot-at-not-botching-tumblr/

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