Yahoo acquires social marketing tech startup Bread
According to a report by TechCrunch, Yahoo Inc had acquired 2.5 year-old startup Bread. Financial details of the transaction were not disclosed, but the startup, who had made money in interstitial ad designs, had already shut down its primary publishing products. Interstitial ads are full-page pop ups prior to a website. TechCrunch had heard that the company had been looking for potential buyers for a while as it was low on cash despite raising USD3.5 million in investment commitments.
In a statement, Bread Chief Executive Alan Chan said, "When we launched Bread in 2011, our goal was to help social media influencers and publishers better monetize their online content. In Yahoo, we found a company that shares our vision. We are thrilled to join Yahoo's advertising team in Sunnyvale where we will be working on developing next-generation solutions for social and mobile publishers and advertisers."
Yahoo was reportedly gearing to improve its ad products, and Bread's acquisition was a strategic move. However, Yahoo would only absorb six people as additional engineers and product managers for its advertising technology team.