Yahoo has acquired the app developer Stamped, in a deal whose terms were not disclosed. The Stamped brand will be absorbed into Yahoo and the company will be discontinuing its Stamp product — a social tool in which users can give products and services a “stamp” of approval — by the end of the year.
In a blog post on the Stamped website, the founders Robby Stein, Bart Stein & Kevin Palms wrote, “As entrepreneurs, it’s never easy to walk away from something you built from the ground up, but the folks we met with at Yahoo! are simply top-notch and we’re thrilled to be joining them!”
In the post, the executives went on to reveal that they will be “creating a brand new product and engineering office for Yahoo in NYC’s Bryant Park.” They did not explain what the product would be, but did say that it will be “something big, mobile, and new.” Read more