/// Yahoo Acquires Xobni for Upward of $30 Million (Like ATD Said, Part 2)
Yahoo said it has bought Xobni, as AllThingsD had previously reported it was planning to do. According to numerous sources close to the company, Yahoo paid $30 million to $40 million for the maker of address book apps and plugins. It is the second purchase this week by the Silicon Valley Internet giant of once-promising startups that have struggled to grow and could use a big boost. As ATD had also previously said it would, Yahoo bought Apple iPhone video app maker Qwiki earlier this week for about $50 million. In a blog post titled “Oohay,” which included a trying-hard-to-be-adorkable photo of the Xobni staff with Yahoo-branded stuff, the company said, “Did you ever meet someone who truly ‘gets’ you? That’s how we feel about Yahoo!.” Interestingly (and perhaps oddly), Qwiki’s acquisition announcement also had a romantic relationship meme, with big hearts. (By the by, Oohay is Yahoo spelled backward, keeping with the forced fun theme, while Xobni is inbox spelled backward. Apropos of nothing, Arak is Kara spelled backward.) Xobni said that support for its products would not be shuttered for one year , although “new purchases of premium products are no longer being accepted.” It also noted that it had moved its San Francisco staff to Yahoo’s Sunnyvale HQ. Obviously, the price Yahoo paid is below the more than $40 million raised by the startup from a variety of venture capitalists, including First Round Capital, Baseline Ventures and Khosla Ventures. Launched in 2008, Xobni received its initial round of funding in 2006 from Y Combinator.
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Yahoo Acquires Xobni for Upward of $30 Million (Like ATD Said, Part 2)
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