Yahoo snaps up Seattle mobile marketing startup Sparq
Seattle-based mobile marketing startup Sparq announced on its website that it has been purchased by Yahoo. The financial terms of the acquisition deal were not disclosed by the company, according to TechCrunch.
Sparq's team will be transferring to Yahoo's office in Sunnyvale, the report said.
Prior to the acquisition, Sparq secured a total of $1.7 million from several small funding rounds. The company raised over $650,000 in its most recent financing round last year, the report stated.
A spokesperson from Yahoo said Sparq's technology helped users get more mobile content. In order to drive its revenue growth, the Internet giant needs to monetize its mobile client base. Acquiring a company that specializes in that area is a good move for Yahoo. And based on the amount of funding Sparq raised, it was likely a cheap deal for Yahoo, the report explained.
It is not yet clear how exactly Yahoo will use Sparq's technology to move between applications. But if Yahoo could successfully pull off an inter-app movement with Sparq, its revenue for every user could probably increase, TechCrunch reported.