Marissa Mayer’s First Acquisition Means an Exit for Justin Bieber, Scooter Braun, Ellen, and Ryan Seacrest
This is about as close as Marissa Mayer has come to being featured in an episode of Entourage. Today, word leaked that the new Yahoo CEO made her first acquisition–or acqui-hire, depending on who you ask. Ms. Mayer has purchased Stamped, a New York City-based recommendations app cofounded by two fellow Xooglers. Stamped cofounder Robby Stein worked closely with Ms. Mayer when the two were both still employed by GOOG.
Mashable says Stamped’s team, five of whom are former Google employees, will be joining “a new mobile product team to be established in New York under the leadership of Stamped’s three co-founders.” In a blog post published to the Stamped site, the team confirmed that they will be “discontinuing the Stamped product” but are working on a solution for users to export their data from the app.
Business Insider reports that the deal was closed for a ”a nice size,” but nothing too hefty. That should mean some extra spending money for a group of people who have no need for it: Stamped’s celebrity investors. Read More