Sunnyvale, California – In its quest to reclaim its lost glory, Internet pioneer Yahoo CEO Marissa Mayer has spelled out that the beleaguered media company has just snagged the San Francisco-based startup today, with some new talent in the form of OnTheAir, a California-based startup that connects people via live video chats.
Continuing Mayer march toward all things mobile and made good on that promise by snatching up the ex-Googlers and former Apple staffers behind video platform OnTheAir.
The five-man team of OnTheAir ceremoniously disclosed the deal on its website Tuesday that it was joining Yahoo. Yahoo also confirmed the acquisition, its second since Mayer took over as chief executive this past July.
According to media reports, the deal is essentially a talent grab designed to bring more mobile know-how to Yahoo. Yahoo is currently in the process of trying to figure out how to better distribute its content to mobile audiences.
When OnTheAir unveiled in March, it was simply a group of friends with the dream of building a company “that made a difference in the daily lives of millions,” the site noted. Now they have that chance.
“When we first met with the team at Yahoo, it was clear that everybody there is committed to making mobile products the backbone for the world’s daily habits,” the team wrote.
In fact, the mobile market is growing rapidly, and Mayer has said the space is integral to Yahoo’s future growth.
“Our top priority is a focused, coherent mobile strategy,” she said during a quarterly earnings conference call, adding that one-half of the company’s technical work force will one day be working on mobile.
Moreover, OnTheAir combines the expertise of former Meebo, Google, Apple, and Cookiris employees, “coached and mentored by some of the brightest investors and advisors in technology,” Abel Allison, Daniel Hopkins, Erik Goldman, Josh Schwarzapel, and Mike Kerzhner said. They admittedly have not “yet attained our dream of building a widespread daily use product,” but with Yahoo, “there are big things to be done and great products to be built, and we are thrilled to be a part of it,” they said.
“Hiring the most talented mobile product intellects and engineers is a big priority for us moving forward. Abel, Dan, Erik, Josh, and Mike are a great addition to Yahoo!, and we can not wait to work with them to create the best possible mobile experience for our users,” Yahoo’s Adam Cahan, senior vice president of emerging products & technology, said in a statement.
vvvvvvvv Sunnyvale, Calif.-based Yahoo did not revealed the exact terms of the deal. OnTheAir appears to have raised less than $1 million in seed funding.