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Yahoo CEO Marissa Mayer has extended her spending spree, as the company has now bought San Francisco-based Cooliris.
Yahoo Inc. has bought Cooliris, a San Francisco developer of photo management applications that launched in 2006.
The purchase of Cooliris for an undisclosed amount marks the latest in a series of acquisitions by Yahoo under Marissa Mayer, who has faced pressure from investors in recent months over mergers and acquisitions.
In three rounds of funding since 2007, Cooliris raised a total of $28.1 million from venture capitalists, including Kleiner Perkins Caufield & Byers and the Westly Group, according to CrunchBase.
“Yahoo has a clear vision and unwavering commitment to making mobile an intuitive and effortless experience,” Cooliris said on its website. “This makes Yahoo the perfect partner for Cooliris, and we are excited to come together to bring indispensable products to a worldwide audience.”
Some investors who reportedly want a merger of Yahoo and AOL Inc. want Mayer to slow down the company’s ongoing shopping spree aimed at new talent and technologies.
Source: San Francisco Business Times
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