Yahoo acquires start-up Snip.it, a Pinterest for links
Snip.it, a start-up that has been described as a Pinterest for Web articles, has been acquired by Yahoo.
The San Francisco company announced the news Tuesday in a message posted on its website, letting users know that it would no longer continue supporting “snipping,†which is the action users would take to collect articles, videos or pictures from around the Web.
“We are thrilled at the opportunity to bring Snip.it’s vision to a larger scale at Yahoo,†the message read.
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Users wishing to download their data from the site can do so by clicking a “Download my data†button halfway down the page. The start-up, which launched in October 2011, also made a hall of fame page to honor its top users.
Neither Snip.it nor Yahoo disclosed terms of the acquisition, a purchase price or what Snip.it’s team will do at Yahoo.
“The Snip.it team created an innovative technology that lets people share content in a social and fun way,†Mike Kerns, Yahoo’s vice president of product, said in an email statement. “Reading and sharing content is a core daily habit for most of the world, and we can’t wait to work with the Snip.it team to make that experience even more entertaining for our users.â€
Snip.it founder Ramy Adeeb told The Times in September that his plan for generating revenue was to include sponsored “snips,†or advertisements, alongside the snips of the platform’s users.
It seems there might have been more money in getting purchased by Yahoo.
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