Yahoo snags Xoopit for $20 million

By on July 23, 2009, 10:24 AM
Yahoo has announced that it acquired Xoopit, a photo sharing and organization tool compatible with Yahoo Mail among other Internet services. While the search-giant has not officially disclosed any financial details of the transaction, several reports are quoting an inside source who says the deal was worth $20 million.

By using Xoopit’s technology, Yahoo hopes to introduce easier methods of sending photos and sharing albums with friends and family. Of the other Web services compatible with Xoopit is the email service of Yahoo’s greatest rival, Google. Yahoo is denying new Gmail registrations, and in the spirit of competition, they’ll continue support for open accounts – for now.

Between their talks with Microsoft and their new front page design – which hasn’t impressed me, frankly – Yahoo is taking some big strides to try and regain foothold in the search market. In the recently closed quarter, Yahoo posted a 13% loss in revenue year over year.

User Comments: 2

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raybay said:

Somebody is pouring a lot of money into Yahoo... Now just who could that be.

If it doesn't work, you will be able to stick a fork into Yahoo and their funding source, and find that they are done.

TJGeezer said:

They remind me a bit of CompuServe - seemingly unassailable, and then they're scrambling to catch up and regain what they lost. AOL did for CompuServe and now it seems Google has done for Yahoo. A liaison with Microsoft might offer some hope in this space for both companies, or it might be too little too late. Google seems unassailable. (Where have I heard that before?)

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