While Yahoo’s share price has not exactly performed according to the expectations of some even with Ms. Mayer at the helm, this does not mean that the company is in trouble so deep that it cannot dig itself out, and neither are they so short on money, they cannot purchase other companies. Apparently, Yahoo has reportedly purchased the company known as Tomfoolery, where upon confirmation of this acquisition by the Internet search giant, Tomfoolery is said to shut down its current business – and that would include its very own social networking app known as Anchor. It however, remains unclear whether Tomfoolery’s core concepts will return as a consumer product, or will it be integrated into Yahoo’s own products? Only time will be able to tell.
From what we know, all of the four co-founders of Tomfoolery including Kakul Srivastava, CEO, Sol Lipman, chief product officer, Simon Batistoni, VP of platform, and Ethan Nagel, VP of mobile, will now come under Yahoo’s payroll, where they will work alongside Jeff Bonforte, the head of Yahoo’s communication products division. Among the different products under that particular division would include Yahoo Mail, Messenger, Groups, Contacts, and Calendar – and we’re talking about mobile as well as desktop versions here.
Next Story: Google Glass Games Demoed