Yahoo picks up e-commerce startup Lexity
With many of its recent acquisitions focused on social and mobile, Yahoo is evidently turning its attention toward e-commerce.
The technology company's latest buy is Lexity, self-touted as a "a one-stop shop" for e-commerce apps, promising apps for "every aspect" of an online business.
This runs the gamut from apps for automated advertising on Google, chatting online with customers, and re-targeted ads on Facebook.
The Lexity team confirmed the news on its website on Wednesday morning.
The Mountain View, Calif.-based company also published an FAQ section revealing how it will be folded into the Yahoo corporation.
Essentially, Lexity will continue to run under its own name for the next few months and then re-branded as part of Yahoo team at a yet unspecified date.
Lexity also assured that its apps will continue to be supported and run as normal across partner platforms, including Shopify, Magento and BigCommerce.
However, the Lexity team did leave room for potential changes down the road.
For example, Lexity leadership said that they don't expect "any immediate changes" to currently available apps, and "there are no planned changes" as far as pricing is concerned.
As far as stored financial and business data is concerned, Lexity had this response:
We are extremely careful with all data and keep it securely on our servers. Yahoo has the same great standards, so your data is safe and in great hands.
Financial terms of the deal have not been disclosed. TechCrunch reported that Lexity had raised up to $6 million in venture capital funding.
Image via The Lexity Blog