Yahoo! Buys Stamped
Yahoo! has bought mobile recommendations app company Stamped. This is Marissa Mayer’s first acquisition since she became CEO of the company. Stamped is a nine-person company and five of them are former Google employees. They will become a part of Yahoo!’s mobile product team, which will be set up in New York, led by Stamped’s three co-founders. Stamped’s existing mobile app will be discontinued by the end of the year. Mayer and Stamped co-founder Robby Stein worked closely together during their tenures at Google. The Stamped iPhone app launched in November and it allows users to track and share things that they like with their friends like books, movies, restaurants, etc.
Stamped gained quite a bit of traction when Justin Bieber tweeted about them back in August. Justin Bieber, Ryan Seacrest, and Ellen DeGeneres invested in Stamped the month before that. Other investors in Stamped include Bain Capital Ventures, Google Ventures, Metamorphic Ventures, The New York Times Company, and Columbia Records.
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry