Yahoo buys, cuts off its existing customers

Yahoo buys, cuts off its existing customers

Summary: Yahoo has bought up fledgling startup to work on its "social news" projects, but at the same time, has shut down the original product the startup was offering.

TOPICS: Start-Ups

Yahoo has purchased scrapbooking and aggregation site, similar to Pinterest, and in the process, has cut's existing customers off.

In a statement on's website, the organisation said that it would "no longer support snipping," and that its current user base would have until February 21 to download and export the "snips" they had created using its service. Last year, it had 7,000 users.

An unnamed source told All Things D that Yahoo is paying in the "mid teens" of millions of dollars to purchase thanked its user base for its support, honouring its top members in a hall of fame, but it was unable to share what it would be working on at Yahoo, aside from it being related to social news.

Rival site Clipix is already capitalising on the close of and encouraging users to import their "snips" into "clips".

Topic: Start-Ups

Michael Lee

About Michael Lee

A Sydney, Australia-based journalist, Michael Lee covers a gamut of news in the technology space including information security, state Government initiatives, and local startups.

Kick off your day with ZDNet's daily email newsletter. It's the freshest tech news and opinion, served hot. Get it.


Log in or register to start the discussion