Yahoo brings back five ex-employees in latest deal

Mar 20, 2013

Yahoo has bought Silicon Valley startup Jybe so it can bring back five of its former engineers to help the Internet company build better mobile applications.

The deal announced Wednesday marks Yahoo's fourth acquisition of a small startup during the past five months. In each instance, Yahoo been more interested in obtaining the startups' brainpower than the services that they provided.

As with its other recent acquisitions, Yahoo Inc. didn't disclose the purchase price.

Jybe's mobile service that gathered people's recommendations about food and entertainment is closing down so its five employees can focus on other projects at Yahoo Inc. All five Jybe workers were formerly employed at Yahoo before the company hired former . executive as its CEO eight months ago.

The recent acquisitions are part of Mayer's effort to bring in more expertise in designing mobile applications to give Yahoo a better chance of connecting with the steadily growing audience that are relying on smartphones and to reach online services instead of personal computers.

The group of Jybe employees returning to Yahoo includes Arnab Bhattacharjee, who was a vice president of search at the company before leaving nearly two years ago while was CEO. Bartz had negotiated a deal that turned the responsibility for providing most of Yahoo's search results to Microsoft Corp. That move triggered a wave of defections on Yahoo's own internal search team.

After focusing on nothing but small acquisitions under Mayer's command, Yahoo may be working on something bigger. Earlier this week, The reported that Yahoo is in preliminary discussion to buy a controlling stake in online video site Dailymotion from France Telecom SA. The report cited anonymous people familiar with the talks.

Yahoo declined to comment on The Journal's report.

The Journal indicated Yahoo is considering buying a 75 percent stake in Dailymotion for about $225 million.

Yahoo's stock dipped 6 cents to $22.11 in early afternoon trading.

Explore further: Microsoft CEO sees 'bold' plan as 4Q tops Street

2 /5 (1 vote)
add to favorites email to friend print save as pdf

Related Stories

Yahoo! buys maker of personal recommendation app

Mar 20, 2013

Yahoo! on Wednesday announced that it has bought Jybe, the startup behind a smartphone application that makes local entertainment or dining recommendations based on what people like.

Recommended for you

Cheaper wireless plans cut into AT&T 2Q profit

1 minute ago

(AP)—AT&T posted lower net income for the latest quarter due to cheaper cellphone plans it introduced as a response to aggressive pricing from smaller competitor T-Mobile US.

Facebook shares profit growth story

5 minutes ago

Facebook on Wednesday reported that is quarterly profit more than doubled amid big gains in ad revenues and a jump in users.

Android grabs more tablet market share

1 hour ago

Global sales of tablet computers edged higher in the second quarter, in the slowest growth since 2009, research firm Strategy Analytics said Wednesday.

Microsoft CEO sees 'bold' plan as 4Q tops Street

13 hours ago

(AP)—Microsoft Corp. CEO Satya Nadella painted an upbeat vision of the future Tuesday, saying that the next version of Windows will be unified across screens of all sizes and that two money-losing units—Nokia ...

Apple's fiscal 3Q earnings top analyst forecasts

23 hours ago

Apple's growth prospects are looking brighter as anticipation builds for the upcoming release of the next iPhone, a model that is expected to cater to consumers yearning for a bigger screen.

User comments : 1

Adjust slider to filter visible comments by rank

Display comments: newest first

Lurker2358
1 / 5 (1) Mar 20, 2013
Puny humans. Corporations own you.