Yahoo's arissa Mayer announced via Twitter Thursday that the company has acquired the start-up Stamped.
Mayer tweeted: "Got to visit our new acquisition, Stamped, this morning—happy to be reunited with Robby (rmstein) and his team!"
Stamped is the first acquisition that Mayer has made as CEO. The small company is only a year-and-a-half-old and is built around the idea of sharing users' favorite things, like music, movies and books. The terms of the deal were not disclosed.
Two of the three founders are also former Googlers . Robby Stein, the CEO and co-founder, and Bart Stein, the co-founder and head of marketing and partnerships both have worked for the search giant. Kevin Palms is the third co-founder and worked at a hedge fund in New York City before starting Stamped.
The start-up posted on its website Thursday though that it would be discontinuing its product by the end of the year and would be launching a new product for Yahoo, but did not reveal what the product would be.
"As for our team's next step, we couldn't be more thrilled to join Yahoo!. As a team of mostly former Googlers, we've all worked with and are big fans of Marissa. So when an opportunity arose to become a part of the team at Yahoo!, we jumped," the founders of Stamped posted on the company website.
Personal data including text messages, contact lists and photos can be extracted from iPhones, Apple acknowledged this week.
Some limits to tablet sales have become apparent since Apple first carved out a new market between phones and laptops. The FT reports.
Here are some accessories to keep your smartphone conveniently handy, whether you're poolside or in your underwear.
A wider-than-expected quarterly loss is not the only reason Amazon stock is tanking, says a Wall Street analyst.
Get the best of CNBC in your inbox
"Our goal is to get as close to the experience the surfer is having," says the head of a pro surfing organization.
Though Apple posted profits that beat expectations, investor Roger McNamee found reason to throw cold water on the tech giant.
The Apple-IBM partnership also greatly benefits both companies, says Roger McNamee, founding partner of Elevation Capital.