Yahoo Inc. (Nasdaq: YHOO), which won Mergers & Acquisitions' M&A Mid-Market Award for Strategic Buyer of 2013, has added another startup to the company's long list of targets. The Sunnyvale, California-based Web portal is set to acquire analytics company Flurry Inc. as a means of improving mobile growth and presence.
The San Francisco startup analyzes data from smartphone users so developers can better target their audiences with certain brands and advertisements. This grants Yahoo more access to mobile promotions, as the number of smartphone users continues to rise.
Terms of the deal have not been disclosed, but reports peg the price tag to be roughly $300 million. Flurry collaborates with roughly 8,000 web publishers on monetization efforts, and works with mobile developers in 150 countries. Among the company’s notable customers are Pinterest Inc. and Snapchat Inc. Flurry, co-founded by entrepreneur Sean Byrnes in 2005, was known for providing a mobile e-mail service in 2006. Since then, the company has raised more than $60 million from backers including Draper Fisher Jurvetson, Menlo Ventures and Union Square Ventures.
Flurry is the second ad-based startup Yahoo picked up in the last year, and one of roughly 40 that the company completed since Marissa Mayer became CEO in July 2012.
In October, Yahoo bought and shuttered Bread, a San Francisco service that shortened URLs and helped social media publishers monetize their online content by advertising across desktops and mobile devices.
Before Flurry, Bread and text messaging mobile application Blink were the latest examples of Yahoo acquiring a startup for the company's talent--a strategy dubbed "acqui-hiring."
Also in 2013, Yahoo bought Tumblr Inc. and brought founder David Karp on board. The deal is considered Yahoo's biggest since 2003. After that, the company bought Qwiki Inc., a mobile application that enables users to create videos on the iPhone, followed by Rockmelt, a venture capital-backed startup that focused on developing web browsing technology.
For more on Yahoo’s startup buys, see “10 Startups Marissa Mayer Bought Before Tumblr.”