Yahoo! Buys Local Recommendations App Company Propeld

Yahoo! has bought Propeld, a company that has developed an app called Alike.  Alike will most likely be used to pull data from Facebook, Foursquare, and Twitter to recommend nearby businesses.

There is speculation that this acquisition was an acqui-hire, meaning that Yahoo! was most interested in hiring the team behind the company rather than the product.  This seems like the case since the Alike app will be shut down.

Propeld is based in Seattle, but the team will be relocating to Yahoo!’s HQ in Sunnyvale, California.

Below is a statement from Propeld’s website:

We’ve always been passionate about the growing power of intelligent mobile experiences. We believe that distilled information, deeply personalized and made accessible anytime and anywhere, is what makes mobile experiences a part of our customers’ daily lives.

In Yahoo we’ve found a team as excited about this vision as we are, and who are serious about making it real. We’re super excited to join Yahoo’s mobile team, where we can march toward that vision faster than ever.

[Source: BusinessInsider]

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