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.
Best Buy, survivor of a breed that once included competitors like Circuit City, is trying to stay relevant. Re/code reports.
Netflix has struck a deal with AT&T to ensure smoother streaming for its customers.
Need to see a doctor? Look no further than your smartphone.
Microsoft gave employees a peek at a "selfie" phone featuring a 5-megapixel forward-facing camera at a meeting this week.
Get the best of CNBC in your inbox
To enter NYC, Lyft cut a deal with the taxi commission that eliminated the one thing that distinguished it from its rivals.
The deal shouldn't concern Realtors, but it could impact the National Association of Realtors, Collingwood Group's Tim Rood said.
"Our goal is to get as close to the experience the surfer is having," says the head of a pro surfing organization.