|By Business Wire||
|July 21, 2014 04:38 PM EDT||
Yahoo! Inc. (NASDAQ: YHOO) and Flurry, Inc. announced today that they have reached a definitive agreement for Yahoo to acquire Flurry.
Yahoo is on a mission to re-imagine users’ daily habits, and mobile is at the center of everything we do. Our agreement to acquire Flurry is a meaningful step for the company and reinforces Yahoo’s commitment to building and supporting useful, inspiring and beautiful mobile applications and monetization solutions. By joining Yahoo, Flurry will have resources to speed up the delivery of platforms that help developers build better apps, reach the right users, and explore new revenue opportunities. Together, the companies can make mobile experiences better through products that are more personalized and more inspiring.
Analytics are critical for all mobile developers to understand and optimize their applications. Yahoo and Flurry are reinvesting in developers and continuing to build great analytics products. The combined scale of the two companies will accelerate revenue growth for thousands of developers and publishers across the mobile ecosystem.
In addition, the joined offerings of Yahoo and Flurry will enable more effective mobile advertising solutions for brands seeking to reach their audiences and gain unique insights across desktop and mobile, and users will benefit from more personalized app experiences.
Flurry has been delivering the platform and insights to help developers optimize and personalize their apps since 2008. The Flurry stats speak to their success.
- 170,000 developers use Flurry Analytics
- Flurry sees app activity from 1.4 billion devices monthly
- Flurry sees 5.5 billion app sessions per day
- Flurry Analytics is in 7 apps per device on average
- 8,000 publishers monetize with Flurry
- Flurry works with mobile developers in 150 countries
As announced in Q2 earnings last week, Yahoo mobile usage is growing rapidly.
- Yahoo’s mobile display and search revenue each grew more than 100% year-over-year
- More than half Yahoo’s total monthly audience visits on a mobile device, and in Q2, over 450 million mobile monthly active users came to Yahoo, a 36% increase year-over-year
- Time spent on mobile has grown 79% in the last year alone
- The average Yahoo user now spends 86% of their time on smartphones in apps
“Yahoo’s growth in mobile traffic comes from great people and great products,” said Scott Burke, SVP Advertising Technology. “Flurry’s success is the result of years of committed investment by a passionate team to create an indispensable platform for mobile developers. We want to harness our collective innovative spirit and bolster the mobile ecosystem by providing developers the analytics and monetization solutions to drive their success.”
“As part of Yahoo, Flurry will continue to serve the application developer community in the way we always have, only better,” said Simon Khalaf, President and CEO, Flurry. “With Yahoo, we will have access to more resources to speed up the delivery of great products that can help app developers build better apps, reach the right users, and explore new revenue opportunities. Over the last six years we have accomplished a lot on our own, but with Yahoo we are in an even better position to achieve our joint goals.”
Following the closing, the Flurry team will remain in their present locations, and Flurry’s vision, mission, and focus will stay the same. Flurry’s products will continue to operate and innovate with Yahoo’s support and investment.
The transaction is subject to customary closing conditions.
Flurry is optimizing the mobile experience for developers, marketers and consumers. Flurry’s market-leading analytics product sees activity from more than 540,000 smartphone and tablet apps on over 1.4 billion devices worldwide, giving the company the deepest understanding of mobile consumer behavior. Flurry has turned this knowledge into accelerated revenue and growth opportunities for app developers, and an effective, measurable advertising channel for marketers to engage their audiences on mobile devices. Flurry is venture backed and has offices in San Francisco, New York, London, Chicago and Mumbai. For more information, please visit www.flurry.com.
Yahoo is focused on making the world’s daily habits inspiring and entertaining. By creating highly personalized experiences for our users, we keep people connected to what matters most to them, across devices and around the world. In turn, we create value for advertisers by connecting them with the audiences that build their businesses. Yahoo is headquartered in Sunnyvale, California, and has offices located throughout the Americas, Asia Pacific (APAC) and the Europe, Middle East and Africa (EMEA) regions. For more information, visit the pressroom (pressroom.yahoo.net) or the Company's blog (yahoo.tumblr.com).
This press release contains forward-looking statements that involve risks and uncertainties concerning Yahoo's proposed acquisition of Flurry (including without limitation the statements contained in the quotations from management in this press release), as well as Yahoo's strategic and operational plans. Actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties. The potential risks and uncertainties include, among others, the possibility that the transaction will not close or that the closing may be delayed; and that the anticipated benefits to Yahoo, including projected growth in audience and traffic, and benefits to users and advertisers may not be realized. More information about potential factors that could affect Yahoo's business and financial results is included under the captions, "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2012 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2013, which are on file with the Securities and Exchange Commission (“SEC”) and available at the SEC's website at www.sec.gov.
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