You are using an outdated browser. Please upgrade your browser to improve your experience.
Yahoo Reportedly Set To Acquire Anchor App Developer Tomfoolery For $16 Million

Yahoo Reportedly Set To Acquire Anchor App Developer Tomfoolery For $16 Million

January 28, 2014
Yahoo is reportedly set to check off another item in its startup shopping list: Tomfoolery. According to a new report by The Wall Street Journal, the Internet giant is in advanced talks to acquire Tomfoolery for $16 million. Tomfoolery is a developer of business apps, most notably the AppAdvice App of the Week awardee Anchor, a workplace-focused social networking app. Should it push through, the acquisition will constitute another "boomerang" hire, a term coined by Yahoo CEO Marissa Mayer that refers to returning Yahoo employees. The Wall Street Journal notes:
With the acquisition, the Internet portal would gain a team that includes Tomfoolery Chief Executive Kakul Srivastava, a seven-year veteran of Yahoo who helped manage photo-sharing site Flickr and left the company in 2011; and Sol Lipman, a former AOL vice president.
It's unclear, though, whether Yahoo plans to keep Tomfoolery's Anchor operating or shut it down as soon as the acquisition is finalized. A couple of Yahoo's most recent acquisitions, the DreamWorks-funded video-sharing app Ptch and the cross-platform video streaming startup QuikIO, were discontinued right after they were purchased by Yahoo. Other services that suffered a similar fate include Summly, Astrid, KitCam, and Bignoggins. Qwiki, the “quick” video creation app acquired by Yahoo last July, is a rare exception as it remains available in the App Store.

Mentioned apps

Free
Anchor by Tomfoolery, Inc.
Anchor by Tomfoolery, Inc.
Tomfoolery, Inc.
Free
Qwiki for iPhone
Qwiki for iPhone
Qwiki

Related articles