Yahoo has acquired a San Franscisco based content curation startup Snip.it, which organizes webclips in a Pinterest like format. This was first reported by AllThingsD. While Yahoo or Snip.it didn't disclose the terms of the acquisition or the acquisition amount, a TechCrunch report suggests that Yahoo acquired the startup for $10 million along with several million dollars worth earn-outs tied to team retention. Citing a source familiar to the deal, the report also suggested that nine of the ten Snip.it employees will join Yahoo. Snip.it has already shut down its service and has offered users to download their data until February 21, 2013, indicating that this was a talent acquisition. Launched in 2011, San Francisco based Snip.it had investors like Khosla Ventures, True Ventures, Charles River Ventures, and SV Angel. Implications While Snip.it has not disclosed any specific details on what they will be building at Yahoo, the company mentioned on its website that it will working on improving Yahoo's social news offering. This looks to be inline with Yahoo's strategy to be a one-stop content destination for its users. While the web has evolved, users have been increasingly looking forward to personalize the web experience as per their needs rather than depending on machine based algorithms to find content on a website. What a best way to do that by handling the responsibility on friends or people you follow to curate the content for you. This is one of reason why Twitter works - people follow users who bring curate content to them. Yahoo had previously tried…
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