SAN FRANCISCO – Yahoo! confirmed Tuesday that it bought Snip.it, a young San Francisco startup that lets people create scrapbooks with pictures, articles, videos and other content found online.
“Reading and sharing content is a core daily habit for most of the world, and we can’t wait to work with theSnip.it team to make that experience even more entertaining for our users.”
“For the past year and a half, we’ve worked tirelessly as a team to build the best social news platform on the Web,” Snip.it said in the message.
“We are thrilled at the opportunity to bring Snip.it‘s vision to a larger scale at Yahoo!”
Snip.it launched in late 2011 as a place where people could share digital “scrapbooks” based on topics or themes of their choosing.
Financial terms of the acquisition were not disclosed but unconfirmed online reports estimated the figure to be in the vicinity of $15 million.