It's a brand new week here in Cyberland, which means it's time for another company to be acquired by Yahoo. In what seems to be the ongoing trend as of late, Yahoo has been snatching up startups left and right, all while revamping their own projects, closing non-profitable ones and spending billions on established brands. Last week, it was Admovate and this week, it's Rockmelt, the startup social browser.
On their blog, Rockmelt posted:
Founded in 2009, the company was able to gain almost $40 million in investment funds from different companies around the country. The shutdown of Rockmelt's app and products are to be expected, as Yahoo has been doing that with nearly every other company they've brought into their portfolio over the past year.
It should also be pointed out that this wasn't Yahoo's only pick-up this week, either. The web giant purchased Lexity, an e-commerce business, but the terms of that deal were not disclosed. For Rockmelt, AllThingsD is reporting that Yahoo almost doubled the social browser's investment money, with a check in the ballpark of $60-$70 million.
Will Yahoo keep up this trend of buying up groups that will hopefully boost their relevancy moving forward? Or will they eventually run out of companies to buy and/or cash to spend?
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