Tuesday, July 22, 2014
NEW YORK (AP) — Yahoo is buying Flurry Inc., a startup that helps other programmers build better mobile applications and craft marketing campaigns for smartphones and tablets.
The deal announced Monday is the latest in a wave of mostly small acquisitions that Yahoo Inc. has made during the two-year reign of CEO Marissa Mayer as the company's tries to attract more traffic on mobile devices.
The shopping spree hasn't yet provided Yahoo with the means to boost its revenue growth at a time more advertising is moving to online services. The Sunnyvale, California, company last week disclosed another lackluster performance in the April-June period.
Yahoo didn't disclose how much it is paying for Flurry, an indication that the price isn't big enough to affect Yahoo's finances.
Flurry, based in San Francisco, says its analytics are used by 170,000 developers.
Yahoo is counting on Flurry to provide it with the tools to work with more developers of mobile apps.
With most of its traffic now coming on mobile devices, Yahoo said its mobile ad revenue has more than doubled during the past year.
Yahoo's rivals already run services similar to Flurry.