Yahoo buys mobile-app developer Stamped - 13 WTHR Indianapolis

Yahoo buys mobile-app developer Stamped

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SAN FRANCISCO -

Yahoo says it has purchased mobile app developer Stamped, the first acquisition under new CEO Marissa Mayer.

Terms of the deal were not disclosed.

New York-based Stamped runs a website and mobile app for customers to make online recommendations of their favorite things to read, listen to or eat.

Mayer became Yahoo's CEO six weeks ago after working 13 years as a Google executive.

She indicated when Yahoo reported quarterly earnings this week that acquisitions are a priority and the company is targeting relatively small startups willing to sell for less than $100 million.

A Yahoo executive says the Stamped team will help Yahoo create a new center of mobile product development.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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