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Tech whiz cashes in as Yahoo swoops

AFP/ AFR | July 3, 2013
It's the kind of birthday present start-up founders can only dream of: your company being acquired for a reported US$50 million ($54 million) by Yahoo.

Yahoo in June completed a billion-dollar deal taking over the popular blogging platform Tumblr, a move aimed at bringing more youthful users into the company's orbit.

Yahoo has been snapping up companies since Mayer took the helm in July of last year and vowed to revive the company, which has faded in the face of competition from Google.

Yahoo last month bought start-up GhostBird Software, which makes picture-taking applications for iPhones, to enhance its Flickr photo service.

Since former Google executive Mayer became chief at Yahoo, the company has racked up a series of acquisitions including start-ups and a Summly application built by an Australian-British teen.

Yahoo recently bought PlayerScale, a start-up that powers games played on smartphones, tablets, consoles or personal computers.

Yahoo is reported to be eyeing online video website Hulu after its bid to buy a majority stake in France-based Dailymotion was derailed in May.

Mayer's plan for reviving the fortunes of the faded internet pioneer includes making priorities of mobile devices, video, personalised digital content, and elevating the company's popularity outside the United States.


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