Internet, Investments, News

Yahoo acquires image recognition startup IQ Engines

yahoo-iqEnginesIn a move to provide boost to the Flickr team, Yahoo has acquired an image recognition startup IQ Engines, for an undisclosed amount of funds.

Though there is no update regarding the acquisition by Yahoo, but a post on the IQ Engines’ website tells us about the acquisition, and as a part of the deal the service has closed its sign-ups and will be shutting down its API within the next 30 days.

IQ Engines is specialized in tagging and organizing photos. It also has an image recognition platform called Glow that recognizes scenes, objects, landmarks, text and people in photos and is designed to integrate easily with both mobile and web applications.

As a part of the deal IQ Engines will be working on improving photo organization and search for Flickr.

IQ Engines was founded by Gerry Pesavento, and has raised two rounds of funding till now which include USD1 million Series A round in 2010 and a USD 3.5 mn Series B round in 2012 led by from Third Point Ventures and Motorola Solutions’ venture arm.

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Recent acquisitions by Yahoo include social web browser Rockmelt, mobile video platform Qwiki, Toronto based app maker ‘GhostBird’ and a free conference calling service ‘Rondee’.

To contact Author, email pooja.sareen@wirefootindia.com

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