Yahoo Inc. (Nasdaq: YHOO) has picked up another startup, text messaging mobile application Blink, along with the company's founders, in its latest acqui-hire.
Terms of the deal were not disclosed.
In the next few weeks, Blink—a service that lets users send messages that will delete themselves at a time set by the sender—will close down the app for both Android and Apple Inc. (Nasdaq: AAPL) devices. The app competes with other self-destructing messaging apps, including Snap Chat, which rejected a $3 billion buyout offer from Facebook Inc. (Nasdaq: FB) in 2013.
Blink was founded by Kevin Stephen, who was formerly at Google (Nasdaq: GOOG), and Michelle Norgan. Stephen confirms that he, Norgan and the other five members of the Blink team will join Yahoo.
Mobile messaging apps have attracted buyer attention recently, as seen with Facebook's $19 billion purchase of Whatsapp and the $900 million sale of Viber, which enables free calls and messages, to Japanese e-commerce company Rakuten Inc.
Meanwhile, Yahoo has a long history of picking up startups under CEO Marissa Mayer. The Sunnyvale, California company purchased Tumblrfor $1.1 billion in 2013, as well as several smaller businesses, including Summly and Jybe.
The company won Mergers & Acquisitions' 2013 Mid-Market Award for Strategic Buyer of the Year. For more on Yahoo's acquisition strategy, see "Seven Savvy Strategic Buyers: Yahoo."