Yahoo picks up Stamped in talent deal to bolster its mobile business
Mobile recommendations service Stamped has been acquired by Yahoo. The deal was confirmed on the Stamped blog this afternoon after an Instagram photo of Yahoo CEO Marissa Mayer posing with the Stamped team began to circulate online.
Founded in April 2011, Stamped positioned itself as a social recommendation service that allowed its users to share their opinions about restaurants, movies, music and books with their friends.
According to Stamped’s blog post, the deal was a talent-based one. Stamped has said it will discontinue its products by the end of the year, and the app has already disappeared from the iTunes App Store. Going forward, the Stamped team will join Yahoo as part of a new product and engineering office in New York. According to the company’s blog post, they will be working on “something big, mobile and new.”
While the acquisition price was not disclosed, TechCrunch is reporting it was in “the double digit millions.” It’s a successful end for the company, all things considered. According to our traffic tracking service AppData, Stamped had just 3,000 monthly active users and 100 daily active users connecting to their Facebook accounts through the app at the time of purchase. The service peaked in August with 14,000 MAU and 3,300 DAU, but saw sharp declines in usage shortly afterwards.
Before it was acquired, Stamped had raised $3 million in seed funding from Google Ventures, Bain Capital Ventures, CrunchFund and celebrity investors like Ryan Seacrest, Justin Beiber and Ellen Degeneres.