Yahoo! announced that it purchased the e-commerce app platform, Lexity. Lexity is a venture firm started by former Yahoo! employee Amit Kumar. Lexity said that after the acquisition, all services will remain functioning. The name, however, might be change to something else to associate it with Yahoo! branding.

Analysts said that the acquisition is not just another Yahoo! talent deal. The startup had previously raised US$5.7 million to help its clients build apps for monetization, customer acquisition, and retention. Lexity's flagship app, the Lexity Live, would assess a a client's store and deliver insights about how the client could improve sales and other metrics.

"Four years ago we founded Lexity with the goal of helping small businesses succeed. Since then, we've built an amazing set of simple, affordable and effective apps?some our own, some by our developer partners and made them available for all merchants, including those hosted by our ecommerce platforms partners. Today, we serve tens of thousands of customers across 114 countries," said the startup explaining its progress to date.