Yahoo`s latest `buying spree` acquisition is FB browser developer RockMelt

Last Updated: Saturday, August 3, 2013 - 12:46

Washington: Internet Corporation Yahoo, continuing with its acquisition spree has reportedly bought a US start-up that built a web browser tied to Facebook`s social media network.

According to CBS News, CEO Marissa Mayer acquired RockMelt for a price estimated to be above 40 million dollars as the start-up has raised that much money from venture capitalists and other investors since its inception.

The report said that the start-up company had launched its Facebook-focused web browser in late 2010 which never gained traction and so it later introduced a version for smartphones and tablets.

Since Mayer was appointed as the company`s CEO, she has been on an acquisition spree in a bid to direct more traffic to the site with smaller start-ups with an exception of Tumblr, acquired for more than a billion dollars.

RockMelt has as its financial backer Web browser Marc Andreessen, who has established himself as one of Silicon Valley`s top venture capitalists since first making his mark as a co-founder of Netscape Communications, the report added.

ANI



First Published: Saturday, August 3, 2013 - 12:45

More from zeenews

 
comments powered by Disqus