Yahoo!'s (YHOO) Mayer Reaches Another New Milestone as CEO
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Yahoo! (Nasdaq: YHOO) CEO Marissa Mayer, coming off a solid quarterly report, is reaching another milestone: the first acquisition under her tenure.
According to reports, Yahoo! has acquired Stamped, which is a mobile app sharing program.
Robby Stein, who founded the venture, worked with Mayer at Google (Nasdaq: GOOG).
Why acquire a mobile app company? For the talent. Evidently, Stamped operations will be shut down by the end of the year. Since Yahoo! has been lagging in the mobile realm, the move could pan out well.
Yahoo! shares are up 0.5 percent Thursday afternoon.
According to reports, Yahoo! has acquired Stamped, which is a mobile app sharing program.
Robby Stein, who founded the venture, worked with Mayer at Google (Nasdaq: GOOG).
Why acquire a mobile app company? For the talent. Evidently, Stamped operations will be shut down by the end of the year. Since Yahoo! has been lagging in the mobile realm, the move could pan out well.
Yahoo! shares are up 0.5 percent Thursday afternoon.
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