Yahoo May Soon Acquire Lexity [Report]By: Chris Crum - July 29, 2013
Yahoo is reportedly close to acquiring e-commerce app platform company Lexity, which is currently run by long-time Yahoo employee, Amit Kumar.
The news/rumor comes from All Things D, which has recently called other Yahoo acquisitions like Qwiki and Xobni before they became official, though reporter Kara Swisher notes that it’s not clear how close this deal actually is to fruition.
Kumar is the guy who came up with Yahoo’s now defunct SearchMonkey.
Lexity, based in Mountain View, offers a platform for e-commerce apps as well as marketing apps. Featured apps, for example, include Facebook Live Store, which helps businesses get their products listed in Facebook, and a Google Shopping app to help get products listed there. Those are just a couple of many.
Yahoo has been on an absolute hiring spree over the last few months. In July alone, pick-ups include Ztelic, Admovate, Qwiki, Xobni and Bignoggins. This month the company also announced that it is spending over a billion dollars to buy back shares.
Yahoo announced its quarterly earnings earlier this month, with revenues down. As CEO Marissa Mayer noted during the company’s earnings call, however, Yahoo is launching new products every week.