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.
In addition, CEO John Donahoe will step down as CEO of eBay once the split takes effect in 2015.
Europe is a "slacker with low expectations", run by politicians that strangle technological progress, Peter Thiel says. The FT reports.
A long time ago a Yahoo-AOL deal would have created a giant so big that regulators would reject it. Not anymore.
The new iPhones will bend at 70 pounds of pressure but will still stand up to typical use.
Get the best of CNBC in your inbox
Valuations for start-ups appear stretched as Silicon Valley takes on too much risk, says venture capitalist Randy Komisar.
BlackBerry CEO John Chen told CNBC he expects continued growth, and plans to stay at the helm for the foreseeable future.
The electric car maker is full of hype and grossly overvalued at current levels, says former General Motors Chairman Bob Lutz.