Yahoo continued its buyout spree with its recent purchase of mobile start-up company Admovate. The Internet giant, struggling in the mobile advertising department, has snagged 18 such companies since CEO Marissa Mayer joined the team one year ago. Reports say the buyouts are “acqhires,” or acquisitions that are intended more to gain the talent of new employees than the actual company. Admovate will reportedly aid Yahoo in boosting its mobile advertising performance. Yahoo did not disclose financial details of the purchase. According to reports, the buyouts are aiding the struggling company; Yahoo Chief Financial Officer Ken Goldman said in an interview that these acqhires replace the company’s hiring of engineers, which has proven difficult to achieve by many companies in Silicon Valley. The latest financial reports for Yahoo were positive, reporting growing profits for the Internet firm following its growing stake in Chinese-company Alibaba.
Full Content: Forbes
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.