Yahoo! Acquires Video Chat Service OnTheAir

Web giant Yahoo! (Nasdaq: YHOO  ) is buying young online video chat service OnTheAir, according to an announcement today on OnTheAir's website. The terms of the agreement were not revealed, aside from the fact that five of the core members of the OnTheAir site will come over to Yahoo! to help it with its mobile division.

In a letter posted on the site, the OnTheAir team praised the "tremendous amount of energy" at Yahoo!, saying "there are big things to be done and great products to be built."  They said it was clear to them that Yahoo! "is committed to making mobile products the backbone for the world’s daily habits."

OnTheAir launched  in March. Yahoo! is taking steps to position itself in mobile, as competition from the likes of Google (Nasdaq: GOOG  ) and Apple (Nasdaq: AAPL  ) in that area intensifies.

Mobile is an enormously high-growth market that major and minor tech players alike are anxious to dip their beaks in. With the growth in Internet usage moderating -- it has grown at an estimated annual global rate of 8% in 2012 -- the growth in mobile access is exploding in the meantime. Smartphone users have grown by more than 40% globally in 2012, led by China and the U.S. OnTheAir's service could eventually be integrated into Yahoo! services in a way similar to how Google+ Hangouts are prominent on Google's platform.

link


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2139072, ~/Articles/ArticleHandler.aspx, 10/20/2014 12:43:31 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement