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Thursday, October 25, 2012
Yahoo! Buys Mobile Start-up Stamped

Yahoo! said on Thursday it bought Stamped. a mobile start-up company in New York.

Stamped started almost a year and a half ago to create a product that lets consumers share favorite restaurants and music on their smartphones.

Stamped will be discontinuing the Stamped product by the end of the year. The company will be offering a tool (coming soon) for exporting users' stamps and other data.

A former Google executive, Mayer took over as Yahoo! CEO in July, becoming the latest in a string of executives to try to revive revenue growth at the Web portal.

Stamped's 9 employees were mostly former Googlers so they have all worked with Yahoo!'s Chief Executive Marissa Mayer in the past. The team will now join Yahoo! to create a new product and engineering office for Yahoo in NYC?s Bryant Park.

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