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Yahoo to Acquire Flurry to Strengthen Mobile Products
|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
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
Yahoo’s mobile display and search revenue each grew more than 100%
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
“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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