Yahoo has made another acquisition yesterday; this time it is a content discovery and sharing website named snip.it. Both Yahoo and Snip.it have confirmed the news.
The welcome page of Snip.it proudly announces, “We are excited to share some big news: Snip.it has been acquired by Yahoo!.” Yahoo’s Twitter account says, “We are thrilled at the opportunity to bring Snip.it’s vision to a larger scale at Yahoo!.”
While it has not been disclosed what Yahoo plans to build with Snip.it, WSJ reporter Kara Swisher speculates that Yahoo is planning to be the “Google of content.” Yahoo wants to be the trusted destination of users by offering them the content right on the website and compel them to keep coming back.
There is one bad news for existing Snip.it users though. The website “will no longer support snipping.” Users will, however, be able to download and export all their snips till February 21, 2013.
The financial terms of the deal were not disclosed to the press.