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Yahoo Gets RockMelt to Boost Networking

Yahoo attained social Web browser company RockMelt, the newest move by the struggling Web portal to sweep up technology and engineering talent that could reinforce its mobile and social networking efforts. Yahoo did not reveal financial terms of the deal, but a source close to the state of affairs said the price was between $50 million and $80 million. Yahoo will close the existing RockMelt product in 30 days and incorporate the technology into Yahoo's media platform to "distribute content in new ways," a yahoo spokeswoman said. Yahoo will obtain 32 RockMelt employees as part of the deal, counting RockMelt CEO Eric Vishria, who will turn into Vice President of products for Yahoo's media properties and RockMelt CTO Tim Howes, who will become Vice President of engineering for Yahoo's mobile products, as per the source. RockMelt's Web browser was launched in 2010, incorporated social networking features honestly within the browser, letting users to send Facebook messages and browse Twitter postings. The browser never increased sufficient of a following to challenge the bigger Web browsers such as Google Inc's Chrome and Microsoft Corp's Internet Explorer. Over the precedent year, the company shifted its efforts to focus severely on the mobile version of its product. The deal represents the 21st gaining by Yahoo Chief Executive Marissa Mayer. Most of the deals have been lesser transactions to acquire engineering talent. Yahoo's major deal was the $1.1 billion acquisition of blogging service Tumblr in May. Yahoo is among the world's most admired online properties, with hundreds of millions of monthly visitors, but its revenue increase has stalled as consumers and advertisers flock to Facebook, Google and other Web destinations. RockMelt hoisted approximately $40 million in funding from endeavor capital firms including Andreessen Horowitz, Accel Partners and Khosla Partners.

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