Yahoo announced the acquisition of mobile analytics and ad company, Flurry, as it moves toward strengthening its position in the mobile sector.
Yahoo, the renowned internet search company, is making a stronger move into mobiles with the acquisition of mobile app analytics and advertising startup Flurry. The move was confirmed by both companies late on Monday on their respective blog posts. The financial terms of the deal were not disclosed but Re/Code suggested the purchase price to be likely in the "hundreds of millions" range, which makes it one of the most valuable acquisitions under CEO Marissa Mayer's watch.
The hefty price tag for the San Francisco-based startup can be justified by Yahoo's growing interest in the mobile business. The internet search giant has been open about its ambitions for advances in the mobile sector, mainly after reporting 450 million monthly active users and a significant 100 percent growth in search and mobile ad revenue, TechCrunch reports.
Founded in 2005, Flurry is a leader in mobile analytics and offers one of the biggest platforms for mobile ads. The company optimizes the mobile experience for developers, marketers and consumers through better apps and personalized ads. The startup raised more than $70 million in funding from investors like Borealis Ventures, Crosslink Capital, DFJ, Draper Richards, First Round, InterWest Partners, Menlo Ventures and Union Square Ventures, TechCrunch notes.
The acquisition will allow Yahoo to take on its rivals Google and Facebook, companies that have massively grown in the mobile field. Mayer calls Yahoo a "mobile first" company, hence, it is important to have the right team to work for it.
"Our acquisition of Flurry will be a meaningful step for the company and reinforces our commitment to building and supporting useful, inspiring and beautiful mobile applications and monetization solutions," Scott Burke, SVP of Yahoo's advertising technology, wrote in a Tumblr blog post, Monday. "By joining Yahoo, Flurry will have resources to speed up the delivery of platforms that can help developers build better apps, reach the right users, and explore new revenue opportunities. Together, we will make Yahoo mobile experiences better through products that are more personalized and more inspiring."
The startup will continue to operate independently with Yahoo's support.
Since Mayer took over as CEO of Yahoo two years ago, the company has acquired 40 startups. TechCrunch listed 30 mobile startups acquired by Yahoo that add to the company's growing efforts in the mobile sector. Most recently, the company snapped startups like Blink, Wander, Aviate, SPARQ and SkyPhrase among others.
