Yahoo! Inc. (YHOO) Hires Team From Loki Studios
Yahoo! Inc. (NASDAQ:YHOO) has acquired another mobile company called Loki Studios. This is the fourth company that Yahoo! acquired this month. The others include Milewise, GoPollGo, and Astrid. Yahoo! has added around 22 entrepreneurs to their mobile team through these acquisitions. Loki Studios is known for creating mobile games.
Loki Studios is shutting down their flagship application, Geomon. Geomon used the context of the real world like weather, time of day, geography, and other factors to design the field of the game. In Geomon, you took the role of a field agent hunting for spirits born from imagination. As the agent, you can find exotic species that are around the world.
“It has been a difficult but immensely rewarding journey. We collaborated closely with an incredibly supportive community to continuously iterate and improve upon Geomon. We were fortunate to have been advised by some of the best mentors in the industry and befriended many of our peers along the way. We surmounted immense obstacles, formed tightknit bonds, and worked through a few too many sunrises,” said Loki Studios. “Now, our journey continues. We are thrilled to be joining the exceptional folks at Yahoo!. We believe fully in their commitment to creating outstanding mobile products. We are excited to learn from, work with, and contribute to one of the most well-known pioneers of the tech industry.”
Loki Studios received funding from DCM and they were part of Stanford’s StartX incubator program.
Yahoo! was impressed with the company’s experience in community and location-based mobile services. Yahoo! said that they are excited to welcome the Loki Studios team to the company.