As I have mentioned before, Yahoo is one of the most interesting companies to watch, as there have been very few successful turnarounds in the history of tech. Yahoo’s stock has been slowly but consistently climbing since CEO Marissa Mayer took the top seat last September. In November 2012, Marissa explicitly stated that Yahoo would start focusing more on a mobile strategy particularly with news, sports and apps and it appears she is sticking to that forecast.
As reported on CNN.com, Yahoo just completed the purchase of Summly – an app from a 17 year old “brain child of London-based boy genius Nick D’Aloisio.” The app delivers automated snapshots of news stories to its users on mobile devices and formats articles for the small screen. Most news sites work best with a mouse but Summly was build from the ground up with mobile in mind.
Yahoo has closed a few “aqu-hires” but this appears to be one of the first acquisitions that Yahoo will roll out as a regular service offering. Stay tuned for more deals…I have a feeling Marissa is not even close to being done yet.
Associate Professor of Marketing
Stillman School of Business
Seton Hall University