Initial investors will get a slight return, after investing about $39 million since 2008.
CEO Jeff Bonforte and other employees can receive up to $5 million per year in earn-outs as long as they stay with the company.
Original Story:
Yahoo has acquired the "smart" email service Xobni, continuing recent string of high profile purchases.
Xobni will be integrated into Yahoo's mail service, which has over 300 million users, but has been lacking in cutting edge features.
The 'smart' service "re-organizes email according to the user's social contacts, meshing connections from SMS history, phone calls and Facebook or Twitter," says the company. Xobni users will get the same service they have until July 2014 but paid premium services will be discontinued. By that time, the service is expected to be fully integrated into Yahoo.
"Did you ever meet someone who truly 'gets' you?" read Xobni's press statement. "That's how we feel about Yahoo. The power within every Xobni product is that it responds to how you communicate. Every day you demonstrate who and what is important to you. That can benefit not just your inbox or smartphone, but the many services you use. Yahoo gets that, and they want us to use our platform to make many Yahoo services better for you."
Written by: Andre Yoskowitz @ 8 Jul 2013 22:04
