Yahoo seems to have made its first startup acquisition under the reign of its new CEO, Marissa Mayer. It has acquired Stamped, a new mobile recommendations app, which lets users save and share their favorite books, movies, music and restaurants etc with their friends.
It also allows users to follow the recommendations of other influential people like celebrities.
It seems to primarily be a talent acquisition, and a part of Yahoo’s major mobile push. With Stamped’s team, Yahoo will start building out a major mobile product development team in New York.
Stamped’s existing offerings will be discontinued soon.
Marissa Mayer clearly outlined in Yahoo’s Q3 2012 earnings call that it is focused on mobile now, and will have to pivot to a mobile-focused strategy in the coming months. This could be the first major move that shows where her priorities lie.
The exact acquisition amount hasn’t been revealed yet, but it’s likely to be low.
Apparently, Stamped’s CEO, Robby Stein, has worked with Mayer at Google before, as an associate product manager, a program led by Mayer herself.
Yahoo seems to be on the right path with Marissa Mayer leading the charge. She might be the best person to make Yahoo a juggernaut on the internet again, a space which it dominated a decade ago.