True portfolio company Snip.it announced yesterday that it has been acquired by Yahoo!. It’s a wonderful gain for Yahoo!, which continues to reinvent itself by anchoring around incredibly talented startup teams building market-leading products. We are big fans of Marissa Mayer, who has always been a champion of Founders and spreading the entrepreneurial ethos. We believe she is making the right moves to restore a brand we all love to its deserved status, and we are thrilled to see Snip.it become part of Yahoo!’s renaissance.
Snip.it is just the company to help Yahoo! expand their social and news reach, as Founder Ramy Adeeb and his team have built a beautiful platform for users to share news content in a visual and social context. We have been continuously impressed with Ramy since investing in Snip.it in 2011, and we are beyond thrilled at this opportunity to realize his vision at a much larger scale.
Ramy and the entire Snip.it team: Congratulations!