Yahoo! Acquires Video Chatting Startup OnTheAir

Yahoo! has acquired a startup called OnTheAir.  OnTheAir has been described as a “Skype meets Google+ Hangouts” type of service.  You can set up a channel about a certain subject and schedule liver conversations at any time.  You can also moderate who speaks.  OnTheAir can be connected to Facebook and Twitter so that you can share the time of the chat to your Facebook friends and Twitter followers.

Investors in OneTheAir includes Scott Banister, Will Smith, True Ventures, and Triple Point Ventures.  Yahoo! CEO Marissa Mayer said that they will be adding more engineers to the team.  Below is a blog post that OnTheAir wrote about the acquisition:

We are excited to share some big news: OnTheAir has been acquired by Yahoo!.

When we started OnTheAir, we had dreams of building a company that made a difference in the daily lives of millions. Our pursuit was challenging: We put in late nights together. We debated intensely. We worked like crazy to build a product we were proud to put our name on.

Despite the challenges, our experience has been a rewarding one. We got to launch multiple products to a wonderful community. We were coached and mentored by some of the brightest investors and advisors in Technology (see our list below and work with them if you ever get the chance!). Most importantly, we developed deep bonds as a team and learned how to work together as a unit.

While we haven’t yet attained our dream of building a widespread daily use product, we are just as committed to it. And this is why we’re so excited to be joining Yahoo!. When we first met with the team at Yahoo!, it was clear that everybody there is committed to making mobile products the backbone for the world’s daily habits. All in all, it’s a fascinating time to be joining Yahoo!. There’s a tremendous amount of energy in the company. There are big things to be done and great products to be built, and we’re thrilled to be a part of it.

We want to conclude this letter with a word of gratitude. Thank you to all of our customers, team members, mentors, advisors, investors, consultants, friends, and family for being a special part of OnTheAir. Building a company is no easy task, and we realize we wouldn’t be anywhere without your support.

The OnTheAir Team
Abel, Dan, Erik, Josh, and Mike

[BusinessInsider]

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