Yahoo! confirmed Tuesday that it bought Snip.it, a young San Francisco
startup that lets people create scrapbooks with pictures, articles,
videos and other content found online.
"The Snip.it team created an
innovative technology that lets people share content in a social and fun
way," Yahoo! vice president of product Mike Kerns said in a statement
emailed to AFP.
"Reading and sharing content is a core daily habit
for most of the world, and we can't wait to work with the Snip.it team
to make that experience even more entertaining for our users."
message posted at Snip.it told users it was "joining forces" with Yahoo!
and that the service was no longer available. A link was provided to a
hall of fame honoring top Snip.it contributors.
"For the past year
and a half, we've worked tirelessly as a team to build the best social
news platform on the Web," Snip.it said in the message.
"We are thrilled at the opportunity to bring Snip.it's vision to a larger scale at Yahoo!"
launched in late 2011 as a place where people could share digital
"scrapbooks" based on topics or themes of their choosing.
terms of the acquisition were not disclosed but unconfirmed online
reports estimated the figure to be in the vicinity of $15 million.