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.
With more than 150 million monthly users, can Imgur be the social media platform that brands want?
Microsoft held talks about taking over Salesforce.com, but negotiations fell through over price differences, sources said.
The bubble in private market start-up valuations will end badly, Kevin Kinsella of Avalon Ventures tells CNBC.
Get the best of CNBC in your inbox
9to5Mac senior editor, Mark Gurman, said Friday that Apple is trying to revive declining iPad sales with a new function.
Dueling Apple Watch estimates from well-known analysts will not sway Apple's stellar performance, said Roger McNamee.
This is how ADT plans on cementing its spot on the Internet of Everything space, its CEO said.
Mobile games have exploded recently but many gamemakers are struggling forcing them to look for new ways to engage users.
The "Internet of Everything" – the connection of people, process, data and things – could usher in a new era of growth in the Middle East.
An entrepreneur has launched a fund called Fuel.Ventures and is crowdfunding part of it with starting investments as low as £100.