Snip.it, Social News Startup, Bought Up By Yahoo

Marissa Mayer Snaps Up Startup
NEW YORK, NY - MAY 24: Vice president of consumer products for Google Marissa Mayer speaks onstage at the FORTUNE Most Powerful Women Dinner New York City at Hudson Room at the Time Warner Center on May 24, 2011 in New York City. (Photo by Jemal Countess/Getty Images for Time Inc.)
NEW YORK, NY - MAY 24: Vice president of consumer products for Google Marissa Mayer speaks onstage at the FORTUNE Most Powerful Women Dinner New York City at Hudson Room at the Time Warner Center on May 24, 2011 in New York City. (Photo by Jemal Countess/Getty Images for Time Inc.)

By Gerry Shih

SAN FRANCISCO (Reuters) - Yahoo Inc said on Tuesday it has bought "social news" start-up Snip.it, the latest acquisition to be announced under Chief Executive Marissa Mayer.

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

In a 2012 interview, Adeeb, an Egyptian native, told Reuters he conceived his start-up idea during the recent 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.

Terms of the deal, which was first reported by tech blog AllThingsD, were not disclosed.

A former Google executive known for her interest in Silicon Valley start-ups, Mayer took the helm at Yahoo in July and has sought to revitalize the web property by snapping up fresh talent and young companies.

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

(Reporting By Gerry Shih; Editing by Chris Gallagher)

Before You Go

1
Advice To Job Hunting Women
"Find something you're passionate about and just love. Passion is really gender-neutralizing," Marissa Mayer said on Martha Stewart's "Women with Vision" television series in 2011.
2
The Pie 'Isn't Big Enough'
"Right now is a great time to be a woman in tech, but there's not enough women in tech," Mayer told a CES2012 panel hosted by CNET. "[I] worry a lot of times the conversation gets really focused on what percentage of the pie is women. And the truth is, the pie isn't big enough. We're not producing enough computer scientist. We're not producing enough product designers. We need a lot more people to keep up with all of these gadgets, all of this technology, all these possibilities."Mayer also commented on the stereotypical culture within the tech world: "There's all kinds of different women who do this. You can wear ruffles, you can be a jock, and you still be a great computer scientist or a great technologist, or a great product designer."
3
Tangible Technology
"There's just huge growth and opportunity. [T]he fact that the technology is now so tangible in our everyday lives, I think, will inspire a lot more women to go into technology -- and I'm really heartened by that," Mayer said for the MAKERS "Women in Tech" interview series in 2012.
4
Internet Empowered
"I consider myself incredibly lucky to be present in a moment in time when this wonderful and powerful medium, the internet, is empowering geeks -- and especially female geeks -- to express and pursue their passions," Meyer said in a 2012 acceptance speech at the Celebrating Change gala. She had just won the International Museum of Women's first-ever Innovator Award.
5
Geekin' Out
"People ask me all the time, 'What is it like to be a woman at Google?' I'm not a women at Google; I'm a geek at Google. And being a geek is just great," she said in an interview for CNN's "Leading Women" series in 2012.

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