Yahoo Set to Acquire Snip.it, Pinterest for Content Curation
Yahoo appears ready to make its third M&A deal since CEO Marissa Mayer came on board: The company is expected to announce its acquisition of Snip.it later this week. Snip.it is “a Pinterest-like site for article curation,” according to AllThingsD, which first reported the coming deal. The acquisition would cost an amount in the mid-teens of millions of dollars, according to a source.
“Snip.it lets you express yourself through what you’re reading,” according to the site’s About page. “You can ‘snip’ any piece of online content, add your thoughts and organize it into a collection.” The site uses a grid layout similar to the one Pinterest uses. Its audience comprised 7,000 users a year ago
