Image Source: TechCrunch
With Marissa Mayer in the board, Yahoo headed its 33rd acquisition – California based Luminate, as per an announcement on the company’s homepage. Post acquisition, the startup will shut down its services. Terms as well as the amount of the deal have remained undisclosed.
Founded in 2008 by James Everingham, Luminate offers a platform for image applications that combine computer vision, machine learning and crowdsourcing. This service focuses on advertising on top of the online images. In simple words, we can say an advertising service that places ads within the images.
The company till date had raised a total investment of USD 28.5 Million from 11 investors. This includes Google Ventures, August Capital, Shasta Ventures and more. As claimed, at present 10, 000 publishers use it to generate incremental revenue from contextually relevant targeted advertisements.
As stated on the web page, all Luminate publishers, advertisers and experts will be able to login and access account information until October 1, 2014. However, the individuals and direct advertisers will receive their final payments by September 30, 2014.
Other recent acquisitions of Yahoo in this space includes Flurry and RayV.
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