Sunday, April 27, 2008

Yahoo Buys Social Bookmarking Firm

Yahoo recently acquired, a New York-based startup that is considered a pioneer in social bookmarking, a type of online service that lets users save, annotate, and tag links to their favorite Web pages and share their lists with other users.

Both Yahoo and separately announced the deal via postings on their official blogs. Financial terms were not disclosed.

"Together we'll continue to improve how people discover, remember and share on the Internet, with a big emphasis on the power of community," founder and Chief Executive Officer Joshua Schachter wrote in his company's official blog.

In the official blog from the search engine unit at Yahoo, Jeremy Zawodny wrote that the team will be working "in close proximity" to Flickr, a photo-sharing service that Yahoo bought in March of this year.

Flickr works in a very similar way to by letting users not only create online photo albums but also tag and share their pictures with other users.

Schachter said today he's convinced that will thrive as a result of the acquisition because Yahoo truly comprehends the concept of social bookmarking.

For now, users will not see any immediate changes to the service. It will remain at its current Web site and will continue to operate in its usual manner, Schachter said.

Flickr and are considered good examples of what some call the Web 2.0 era of Internet services. Web 2.0 is a much-debated term used to describe many of the Internet companies born after the dot-com bust of 2000 and 2001.

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