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2013-08-02

Yahoo acquires start-up founded by its former Indian employee

Internet giant Yahoo has bought e-commerce platform start-up Lexity, founded by its former Indian employee, Amit Kumar, racking up its 20th acquisition since former Google executive Marissa Mayer became the Yahoo chief last year.

Internet giant Yahoo has bought e-commerce platform start-up Lexity, founded by its former Indian employee, Amit Kumar, racking up its 20th acquisition since former Google executive Marissa Mayer became the Yahoo chief last year.

 

Four-year-old Lexity, specializing in software applications that help small businesses attract and service customers boasts tens of thousands of clients spread across 114 countries.

 

Yahoo, however, did not disclose the financial terms of the deal.
 

Kumar and his team in a blog post said, “We've been humbled by the overwhelming positive response.”

 

“We are excited to join forces with Yahoo and to continue building on our vision.”
 

Lexity applications will continue to operate as independent offerings.
 

Yahoo's growing list of acquisitions includes Qwiki, a New York operation behind an application that converts video and pictures on iPhones into sharable movie clips complete with music soundtracks.


Yahoo has also bought Xobni, a startup behind tools for better managing contact lists and email inboxes, and Bignoggins Productions, a one-person operation specializing in fantasy sports applications for iPhones.


Yahoo in June completed a billion-dollar deal taking over the popular blogging platform Tumblr, a move aimed at bringing more youthful users into the company's orbit.
 

Mayer's plan for reviving the fortunes of the faded Internet pioneer includes making priorities of mobile devices, video, personalized digital content, and elevating the company's popularity outside the United States.

 

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