by Christopher Freeburn | July 2, 2013 9:58 am
On Monday, Yahoo (YHOO) announced that it has purchased 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.
In May, Yahoo spent $1.1 billion to acquire blogging platform Tumblr.
Shares of Yahoo climbed almost 1% in Tuesday morning trading.
Source URL: http://investorplace.com/2013/07/yahoo-plans-to-take-fantasy-sports-to-the-next-level/
Short URL: http://investorplace.com/?p=368620
Copyright ©2013 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.