Technology

Yahoo! buys social news platform Snip.it

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MUMBAI: Yahoo Inc has bought "social news" start-up Snip.it.

Snip.it which was founded in 2011 is a Pinterest-like service that allows news consumers to clip, organize and share articles. It was started by Ramy Adeeb who was previously an investor at Khosla Ventures.

Adeeb who is an Egyptian native had told Reuters in an interview in 2012 that he conceived his start-up idea during the Egyptian revolution, when he wanted to share articles about Middle East politics but found Twitter to be inadequate because most of his interactions with his Twitter followers were related only to tech in Silicon Valley.

 

In a post on its home page, Snip.it said it would shut down its current service but work on bringing "social news" to Yahoo, without providing details.

The post further said, "For the past year and a half, we?ve worked tirelessly as a team to build the best social news platform on the web...We are thrilled at the opportunity to bring Snip.it?s vision to a larger scale at Yahoo!. While we can?t share the specifics of what we?ll be building, we are excited about the opportunity to take social news to new, exciting heights at Yahoo!"

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