American Internet corporation Yahoo! Inc. on Friday said it has acquired online live concert platform Evntlive. Terms of the deal, however, were not immediately disclosed. According to a report by Mashable, Evntlive was founded in late 2011 and launched in April 2012. The California-based startup raised USD2.3 billion in a seed funding round, which included one of the fathers of the Internet Vint Cerf.
Like many of the companies Yahoo! has acquired over the past year, Evntlive will be shutting down and its team will be working with Yahoo on the latter's projects. Evntlive in its website said the startup is excited to join Yahoo!'s video team.
Mashable said the acquisition is particularly interesting in light of recent news that Yahoo hired Katie Couric. Couric is a longtime TV network anchor employed by Yahoo! to become a global anchor for the web portal.
Yahoo has a total of USD17.10 billion assets under management as of last year. It generated revenue of USD4.98 billion in the same year, based on its latest financial report.
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