Market Overview

Yahoo Acquires Mobile Messaging App Blink

Yahoo Acquires Mobile Messaging App Blink

Self-destructing messaging app Blink on Tuesday announced that it will be joining Yahoo (NASDAQ: YHOO).

The app, which competes with companies such as Snapchat, Confide and Wickr, will be shutting down on both Android and iOS in the next few weeks.

Blink allows the sender to set a time limit at the end of which the message will "self-destruct." Blink is a product of Meh Labs, a company best known for Kismet, a location-based service that failed to gain sweeping popularity.

Company founders Kevin Stephens and Michelle Norgan commented, "We look forward to the possibilities that will come from bringing the Blink vision to Yahoo."

Related: 6 Apps For Music Lovers - And One To Avoid

Stephens and Norgan had both previously worked at Google before leaving to start Meh Labs.

The terms of the transaction were not disclosed, nor was Yahoo available for an immediate comment.

According to Reuters, Yahoo CEO Marissa Mayer has been increasing the company's efforts to provide services for consumers who use smartphones and tablets to access the Web.

Yahoo is not the only company trying to gain traction in the private mobile messaging arena. Facebook (NASDAQ: FB) in February acquired WhatsApp for $19 billion after having its $3 billion offer to Snapchat rejected. Additionally, Rakuten, a Japanese e-commerce company, purchased Viber for $900 million.

At last check, Shares of Yahoo have not reacted to the news and were trading up under one percent at $34.53 in the pre-market session.

Posted-In: Blink Google Reuters SnapChat WhatsAppM&A News Startups Best of Benzinga


Related Articles (YHOO + FB)

View Comments and Join the Discussion!
Lightning Fast
Market News Service
$199 Free 14 Day Trial

Starboard Sends Another Letter to Darden Board, Believes Board Should Make Deal for Red Lobster Open to Approval

UPDATE: Macy's Posts Rise In Q1 Earnings, Lifts Dividend