Yahoo acquires Justin Bieber-backed startup Stamped

By ANI | ANI – Tue 30 Oct, 2012

London, Oct 30 (ANI): Embattled firm Yahoo has acquired its first company under the leadership of new CEO Marissa Mayer- Stamped, a New York startup backed by Justin Bieber.

Yahoo purchased the mobile-app Stamped, which was founded in 2011 and is based in New York, for about 10 million dollars.

According to ABC news, Mayer verified the acquisition on Twitter with an Instagram photo from Stamped headquarters.

"Got to visit our new acquisition, Stamped, this morning - happy to be reunited with Robby (@rmstein) and his team," Mayer tweeted.

Stamped lets users keep track of and recommend things like restaurants, books and music to friends online.

According to the report, the purchase jibes with Mayer's stated goal during the company's third-quarter earnings call of becoming "a predominantly mobile company."

"At some point at least half our technical workforce should be working on mobile," she said. (ANI)

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