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Business News Sourced Wired

Yahoo acquires video chat platform OnTheAir

Washington, Dec 5 (ANI): Embattled Internet firm Yahoo has reportedly acquired live video chat platform OnTheAir for an undisclosed amount.

This is the second known acquisition Marissa Mayer has made since she took over as CEO five months ago.

In October the firm purchased Stamped, the New York City-based startup that built an iPhone app to let people record and share recommendations of their favorite things.

According to Mashable, like Stamped, Yahoo is acquiring OnTheAir not for the product itself, but for the talent behind it.

The report quoted OnTheAir’s CEO Josh Schwarzapel, as saying that the startup’s five-person team will be joining forces with Yahoo’s mobile division in San Francisco to begin working on undisclosed projects.

OnTheAir will no longer continue to exist as a standalone product, the report said.

According to the report, Yahoo is also aggressively hiring mobile designers and engineers in New York. (ANI)