Yahoo’s shopping spree continues as it has bought yet another startup under its acquisition list and this time it’s ecommerce app maker Lexity. The acquisition has been confirmed by both the companies, but the terms of the deal are not disclosed at current point of time. With this acquisition Yahoo’s total acquisitions have reached twenty under the leadership of Marissa Mayer.
The reports regarding Yahoo acquiring Lexity had previously appeared on AllThingsd.
Lexity was founded by former Yahoo employee Amit Kumar, four years back. Originally called as Vurve, Lexity offers multiple ecommerce services for SME’s. It also builds apps that help merchants with customer acquisition, retention and monetization and has its own app store for online retailers
Lexity will continue to provide its services even after the acquisition, but will be renamed with Yahoo branding, thus it is not just another talent deal.
“All Lexity apps, including our flagship app Lexity Live, will continue to run seamlessly and we are putting more resources towards making them even better,” states the blogpost by the company. The company has also assured that its apps will continue to be supported and run as normal across partner platforms, including BigCommerce, Magento, Shopify and there are no plans to change Lexity’s pricing model as well.
Lexity’s flagship app Lexity Live is a website traffic analysis tool designed for ecommerce, it provides real time information about current site visitors.
It has thousands of customers across 114 countries.
Lexity has up-till now raised USD 5.7 million in funding, it had raised USD 1.2 million seed round in 2009 and USD 4.5 million in a Series A led by Spark Capital, with participation from Dave McClure’s 500 Startups and True Ventures.
Lexity is based in Mountain View, California, and also has a labs unit in India. Its founder Amit, after working with Yahoo has also worked with advertising firm Draper which was later acquired by Yahoo and then he started Lexity in 2009.Category Internet Investments News