Yahoo acquires mobile recommendations startup Stamped

Summary:Yahoo makes its first acquisition under the leadership of new CEO Marissa Mayer: Stamped.

Following up a positive earnings announcement earlier this week, Yahoo is aiming to keep the momentum going with a brand new acquisition.

The search company has acquired Stamped, a young New York City-based startup that produces a mobile recommendations app.

Mashable reported, based on unnamed sources, before an official statement was released that this was purely a "talent" buy. That was confirmed, so to speak, by the Stamped team on Thursday morning.

Here's a snippet, which might explain why Stamped is being brought into the Yahoo fold:

As for our team’s next step, we couldn't be more thrilled to join Yahoo!. As a team of mostly former Googlers, we’ve all worked with and are big fans of Marissa. So when an opportunity arose to become a part of the team at Yahoo!, we jumped. As entrepreneurs, it’s never easy to walk away from something you built from the ground up, but the folks we met with at Yahoo! are simply top-notch and we’re thrilled to be joining them!

The full statement is available over on Stamped's website.

The purchase of Stamped marks the first acquisition for Yahoo under the leadership of new CEO (and former Google executive) Marissa Mayer .

With the Alibaba sale and this purchase, it's becoming clearer that Mayer is taking charge over the beleaguered corporation quickly.

However, other than the fact that the Stamped team will be setting up brand new product and engineering office for Yahoo in Manhattan, more specific details about the future of the team have not been revealed.

Financial terms of the deal have also not been disclosed. TechCrunch reported that the estimated price tag is likely "in the double digit millions."

Topics: Tech Industry, Apps, Mobility, Start-Ups

About

Rachel King is a staff writer for CBS Interactive based in San Francisco, covering business and enterprise technology for ZDNet, CNET and SmartPlanet. She has previously worked for The Business Insider, FastCompany.com, CNN's San Francisco bureau and the U.S. Department of State. Rachel has also written for MainStreet.com, Irish Americ... Full Bio

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