Yahoo Acquires Hitpost, Another Sports App Developer

by Christopher Freeburn | October 2, 2013 10:38 am

Yahoo Acquires Hitpost, Another Sports App Developer

yahoo sign 630 300x225 Yahoo Acquires Hitpost, Another Sports App Developer[1]Yahoo (YHOO[2]) continues to expand its mobile app technology inventory[3].

Sources tell TechCrunch that the Internet search engine pioneer is about to buy sports app developer Hitpost. The startup has created apps allowing users to take polls and engage in discussions over sporting events and gamble with fake currency.

Hitpost’s most popular app has been installed somewhere between one million and five million times, according to Google‘s (GOOG[4]) app store, Google Play.

As with similar app-maker acquisitions, Hitpost’s talent will joint Yahoo. That includes a staff of seven current employees, though co-founder Aaron Krane will not be among them.

Hitpost becomes the second sports app Yahoo has bought this year after buying BigNoggins over the summer[5].

Earlier this year, the company purchased news aggregator app Summly for about $30 million[6], adding its 17-year-old British creator to its London team.

Shares of Yahoo fell modestly in Wednesday 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. expand its mobile app technology inventory: http://techcrunch.com/2013/10/01/yahoo-hitpost/
  4. GOOG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GOOG
  5. after buying BigNoggins over the summer: http://investorplace.com/2013/07/yahoo-plans-to-take-fantasy-sports-to-the-next-level/
  6. purchased news aggregator app Summly for about $30 million: http://investorplace.com/2013/03/teen-strikes-it-rich-in-yahoo-app-deal/

Source URL: http://investorplace.com/2013/10/yahoo-acquires-hitpost-another-sports-app-developer/
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