On Tuesday, Yahoo has confirmed that it bought Snip.in, popular scrapbook website. Snip.it is a startup that allows users to create scrapbooks with articles, videos, pictures and other online content. It was launched in late 2011.
This deal was in works for few weeks but confirmed yesterday. Yahoo paid $10 million for this deal. Snip.it has 10 employees from which 9 will join Yahoo.
“For the past year and a half, we’ve worked tirelessly as a team to build the best social news platform on the Web,” Snip.it said in the message.
“We are thrilled at the opportunity to bring Snip.it’s vision to a larger scale at Yahoo!”
“We are thrilled at the opportunity to bring Snip.it’s vision to a larger scale at Yahoo!. While we can’t share the specifics of what we’ll be building, we are excited about the opportunity to take social news to new, exciting heights at Yahoo!,” It added.
Now, Snip.it has been shut down and users will be able to download data for month starting from yesterday.
