The spend-happy tech company picks up the startup for reportedly around $70 million to help with content discovery. August 2, 2013 10:40 AM PDT (Credit: Yahoo) Yahoo chief Marissa Mayer continued her fast-and-furious shopping spree Friday with the acquisition of Rockmelt, makers of a browser that specialized in deep social media integration. Terms of the deal were not disclosed, but the 4-year-old startup said its apps will be shuttered at the end of the month. "Yahoo! and Rockmelt share a common goal: To help people discover the best content from around the web," Rockmelt co-founders Tim Howes and Eric Vishria wrote on the company blog. Kara Swisher at AllThingsD, citing sources, reported that Yahoo paid between $60 million and $70 million for Rockmelt. Though Rockmelt's apps will disappear on August 31, Yahoo said that it would integrate the company's technology into its products and services. Prior to the acquisition, Rockmelt had raised roughly $40 million in funding from notable backers including Andreessen Horowitz and Accel Partners, but failed to gain significant consumer traction. The company said earlier this year that it had abandoned its desktop browser to focus on Web content discovery. Rockmelt had also made mobile a priority, and recently released an Android application for content consumption. This story is developing. Refresh for updates.
The spend-happy tech company picks up the startup for reportedly around $70 million to help with content discovery.
Yahoo chief Marissa Mayer continued her fast-and-furious shopping spree Friday with the acquisition of Rockmelt, makers of a browser that specialized in deep social media integration. Terms of the deal were not disclosed, but the 4-year-old startup said its apps will be shuttered at the end of the month.
"Yahoo! and Rockmelt share a common goal: To help people discover the best content from around the web," Rockmelt co-founders Tim Howes and Eric Vishria wrote on the company blog.
Kara Swisher at AllThingsD, citing sources, reported that Yahoo paid between $60 million and $70 million for Rockmelt. Though Rockmelt's apps will disappear on August 31, Yahoo said that it would integrate the company's technology into its products and services.
Prior to the acquisition, Rockmelt had raised roughly $40 million in funding from notable backers including Andreessen Horowitz and Accel Partners, but failed to gain significant consumer traction. The company said earlier this year that it had abandoned its desktop browser to focus on Web content discovery. Rockmelt had also made mobile a priority, and recently released an Android application for content consumption.
This story is developing. Refresh for updates.
