Yahoo Inc. has bought Cooliris, a San Francisco developer of photo management applications, The purchase marks another Yahoo!'s "shopping-spree" by Marissa Mayer who faced pressures from investors over mergers, acquisitions, and stock price.
Yahoo! is focusing on acquisitions that align with the company's key growth areas. which are: search, communications, digital magazines and video. By acquiring Cooliris, the company is welcoming 17 of Cooliris employees to Sunnydale where Yahoo!'s core communication team is located.
"Yahoo! has a clear vision and unwavering commitment to making mobile an intuitive and effortless experience," said Cooliris in its website. "This makes Yahoo! the perfect partner for Cooliris, and we are excited to come together to bring indispensable products to a worldwide audience."
Cooliris that was launched in 2006, has had three rounds of funding since 2007, with a total of $28.1 million from venture capitalists.
