Reuters: Technology News: Yahoo snaps up social news start-up Snip.it

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Yahoo snaps up social news start-up Snip.it Jan 23rd 2013, 01:58 Tweet Share this Email Print Analysis & Opinion Oil barons and tech hipsters share a dark side In search of Google's dark side Related Topics Tech » Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Inflows Outflows » A Yahoo logo is pictured in Rolle, 30 km (19 miles) east of Geneva, December12, 2012. Credit: Reuters/Denis Balibouse By Gerry Shih SAN FRANCISCO | Tue Jan 22, 2013 8:58pm EST SAN FRANCISCO (Reuters) - Yahoo Inc said on Tuesday it has bought "social news" start-up Snip.it, the latest acquisition to be announced under Chief Executive Marissa Mayer. Snip.it, a Pinterest-like service that allows news consumers to clip, organize and share articles, was founded in 2011 by Ramy Adeeb, previously an investor at Khosla Ventures. In a 2012 interview, Adeeb, an Egyptian native, told Reuters he conceived his start-up idea during the recent Egyptian revolution, when he wanted to share articles about Middle East politics but found Twitter to be inadequate because most of his interactions with his Twitter followers were related only to tech in Silicon Valley. Terms of the deal, which was first reported by tech blog AllThingsD, were not disclosed. A former Google executive known for her interest in Silicon Valley start-ups, Mayer took the helm at Yahoo in July and has sought to revitalize the web property by snapping up fresh talent and young companies. In a company blog post, Snip.it said it would shut down its current service but work on bringing "social news" to Yahoo, without providing details. (Reporting By Gerry Shih; Editing by Chris Gallagher) Global Deals Review: 2011 Q3 Global Deals Review: 2011 Q2 Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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