AAA Yahoo gains Stamped’s approval

Yahoo gains Stamped’s approval

Marissa Mayer has made her first acquisition as chief executive (CEO) of internet portal Yahoo by buying Stamped, a US-based social recommendations company backed by a consortium including Google Ventures.

Robby Stein, Stamped co-founder and CEO, previously worked with Mayer when they were both at Google. Stein and his co-founders, Bart Stein and Kevin Palms, will head up the first mobile product development and engineering office in New York for Yahoo, which Mayer joined in the summer.

In July, Google Ventures, the corporate venturing unit of the eponymous search engine, and Bain Capital Ventures again backed Stamped, taking it to $3m raised in total, according to news provider CNET.

The firms were joined by other investors including media companies The New York Times Company, Columbia Records, Crunchfund, which was set up with the backing of technology company AOL, David Hirsch of Metamorphic Ventures, Eric Schmidt, Brian Lee, Ellen DeGeneres, Justin Bieber, Ryan Seacrest, and others, according to a blog post by the company, which did not specify how much the company was raising.

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