Yahoo! Acquires Fantasy Sports Company Bignoggins
Yahoo! has acquired a Silicon Valley based startup called Bignoggins Productions. Yahoo! CEO Marissa Mayer has been on an acquisition spree since she joined the company almost a year ago. Many of the deals were small, but there has been a couple of major deals like the $1 billion acquisition of Tumblr. Yahoo! had around $5.4 billion in cash as of the end of March.
Bignoggins is run by the one-person operation Jerry Shen. Shen quit his job as a software engineer shortly after launching his company three years ago. Shen developed a couple of mobile apps called Draft Monster and Fantasy Monster. Sales of these two apps did well on the App Store, which enabled him and his wife to travel around the world. Shen (30) will be joining Yahoo!’s mobile engineering team.
“After many years as a free agent, I’d like to officially announce that Yahoo! has picked me up off waivers. I’m excited to join a team of all-stars to take fantasy sports to the next level. I’ve been playing Yahoo! Fantasy since high school, and have wanted to work here since college, so this is really a dream come true for me,” said Bignoggins on the company blog. “At Bignoggins, I’ve always been driven to provide the best possible mobile fantasy experience. For years, players have used Fantasy Monster and Draft Monster to dominate their fantasy leagues. The great news is that the technology driving those apps will be integrated into Yahoo’s own offerings. So you’ll be able to enjoy all the features you’ve grown to love, such as mock and live drafts from your mobile device.”
Yahoo! will no longer distribute Bignoggins apps. They will take some of Bignoggins’ app technology and implement it into their own fantasy sports apps.