Yahoo Acquires Rockmelt for Rumored Price Tag of $70 Million

Yahoo Acquires Rockmelt for Rumored Price Tag of 70 MillionYahoo has gobbled up yet another company.

The Internet powerhouse on the comeback trail has purchased social browsing startup Rockmelt.

Although financial terms weren’t made public, industry estimates hint that the deal may have been worth at least $70 million.

For Yahoo, this just adds to the list of mobile startups that the company has recently acquired: Summly, Jybe, Alike, Stamped, Astrid, GhostBird Software, Qwiki, etc.

Previously, Yahoo also acquired social network Tumblr for $1.1 billion.
“Yahoo! and Rockmelt share a common goal: To help people discover the best content from around the web,” a new post on the Rockmelt blog reads. “In our short four and a half years at Rockmelt, we’ve learned a lot about how you like to browse the web, discover content, and share the great stuff you’ve found. You’ve been right by our sides as we’ve celebrated successes, endured failures, and invented new ways of doing things.  You’ve taught us a ton. And we plan to put everything we’ve learned to work at Yahoo!.”

The truth is Rockmelt wouldn’t exist without you, our users. You showed us what it means to browse the web in today’s world. You made us go aww, lol, and hmm. And sometimes you confounded us, which gave us a good excuse to say wtf. Just by using Rockmelt, you made this opportunity possible. We can’t thank you enough for letting us into your daily lives and for believing in us. We will definitely keep you close to our thoughts, designs, and products in our new world.

The Rockmelt apps and web product will be shutdown on August 31st.