Yahoo did not disclose the financial terms of the deal to buy the four-year company specializing in software applications that help small businesses attract and service customers.
Founded just four years ago by former Yahoo employee Amit Kumar, Lexity (formerly knowns as Vurve) markets itself as offering multiple ecommerce services for small- and medium-sized businesses. It has its own app store for online retailers and serves “tens of thousands of customers” in 114 countries.
The startup had raised $5.7 million to help merchants build apps for customer acquisition, retention, and monetization.
Lexity says all services will remain running, but it will eventually be renamed with Yahoo branding.
“We’ve been humbled by the overwhelming positive response,” Kumar and his team said in a blog post.
“We are excited to join forces with Yahoo and to continue building on our vision.”
Unlike other Yahoo acquisitions, this is not a strictly talent buy. All of Lexity’s products, services, and initiatives will be moved over to its new parent company:
All Lexity apps, including our flagship app Lexity Live, will continue to run seamlessly, and we are putting more resources towards making them even better. We will continue to support merchants on any ecommerce platform―BigCommerce, Magento, Shopify, you name it. We will also continue to support and enhance Commerce Central, our write-once, run-anywhere platform for developers. The post further said.
“We will continue to support the current platform, the Lexity Live app, existing customers, and third party apps and developers,” Yahoo said.
“In the near future, we plan to integrate the service with the Yahoo Small Business offering.”
The acquisition continues a shopping spree launched after Mayer became chief of Yahoo a year ago.
So far the company has snapped up an array of startups including GhostBird, Alike, Stamped, Snip.it, and a Summly application built by a British teen.
Mayer’s plan for reviving the fortunes of the faded Internet pioneer includes making priorities of mobile devices, video, personalized digital content, and elevating the company’s popularity outside the United States.