After making 20 acquisitions since Marissa Mayer joined Yahoo, the company had added yet another company under its list and this time it is Mountain View, California, startup Rockmelt.
Though details of the deal haven’t been made public like the other acquisitions but according to reports, the deal might be in between USD 50 to USD 70mn, making it yet another notable deal as most of the Yahoo purchases have been for small amounts other than Yahoo’s USD 1.1 billion acquisition of Tumblr.
“Yahoo and Rockmelt share a common goal: To help people discover the best content from around the Web,” said the blogpost by Rockmelt.
Yahoo will shut down the existing RockMelt product by 31st August and will integrate the technology into Yahoo’s media platform.
Rockmelt was started in 2009 with aim of make exploring the Web faster and more fun. Its Web browser was launched in 2010, it integrates social networking features directly within the browser, allowing users to send Facebook messages and browse Twitter postings. The company had tried to compete with Google, Microsoft and Mozilla in the browser market, but couldn’t resist against these biggies.
The company had shifted focus on entirely mobile-first strategy earlier this year and had rolled out all new experience for the iPhone, iPad and Android devices. But seems it doesn’t give out good results for the company, as according to data by Mattermark, post acquisition, Rockmelt was struggling to draw attention to its various apps, and there was fall in Rockmelt’s app downloads dramatically.
Rockmelt has raised $40M in funding prior acquisition from some of the technology industry’s greatest innovators, including Andreessen Horowitz, Accel Partners, Khosla Ventures, First Round Capital.
Rockmelt, the brainchild of ex-Netscape team member Tim Howes and former Opsware employee Eric Vishria. Post acquisition Rockmelt’s 32 member team will join Yahoo and its founders Eric Vishria and Tim Howes, will join Yahoo as Vice President of Yahoo’s media products and VP of engineering for all of Yahoo mobile respectively.