Yahoo! acquires social media network Stamped
Stamped, a social network focused around sharing and recommending the best locations to friends and to the public, has just been acquired by the new Marissa Mayer led Yahoo! for a currently undisclosed sum. Stamped raised around $300 million of initial investment capitol when they launched last November.
Unfortunately, Yahoo! confirms that the Stamped app will be discontinued, as this acquisition was specifically for talent rather than for product. This is especially ironic considering that Google not too long ago purchased the team behind Oink, a social network with a very similar purpose by Digg’s Kevin Rose, which was then discontinued as well.
Pour one out for our buddy Stamped. May ye rest in application heaven alongside Color.
Via: Google Ventures
Source: CNET
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