Yahoo Buys Mobile Analytics Specialist Flurry
Yahoo has made yet another acquisition to show the industry it's serious about mobile, this time picking up the mobile application analytics specialist Flurry.
The Internet company confirmed the acquisition Monday afternoon, just a few days after it acquired the mobile video startup RayV. Terms of the deal were not disclosed, but Yahoo Inc. (Nasdaq: YHOO) reportedly spent hundreds of millions on the company, which is also focused on mobile advertising. (See Yahoo Buys Mobile Video Startup RayV.)
flurry Inc. is installed in 500,000 mobile apps and used by 170,000 developers, who use the technology for feedback on how their apps are performing and being used and by whom. They can use that information to improve the experience and monetize it with relevant ads.
The company, formed in 2005, has raised nearly $74 million in funding and had been considering an IPO. Acquiring it will help Yahoo strengthen its focus on mobility, where it has struggled to stay relevant while competitors like Google (Nasdaq: GOOG) have thrived. The company has more than 400 employees working on building Android and iOS apps and is looking to improve its mobile search and advertising business and build up its work with apps developers.
Yahoo's stock was down 0.05 points, or 0.15%, to $33.28 at press time.
— Sarah Reedy, Senior Editor, Light Reading