The company bought Brand New Day, a Medicare insurance plan, earlier this monthRead more...
Unlike other startups picked up by Yahoo, Lexity will continue to operate but under the Yahoo brand
Yahoo's shopping spree continued Wednesday, as it picked up its 20th purchase in less than a year.
This time it was commerce app platform Lexity that will be joining Yahoo. And, unlike many of the other start ups that have been themselves gobbled up since Marissa Mayer became CEO last year, Lexity will not be shutting down.
"Today, we are excited to join forces with Yahoo! and to continue building on our vision. Together, we are committed to doing whatever it takes to help make small businesses even more successful," Lexity CEO Amit Kumar wrote in a blog post announcing the news on Wednesday.
"All Lexity apps, including our flagship app Lexity Live, will continue to run seamlessly, and we are putting more resources towards making them even better. We will continue to support merchants on any ecommerce platform―BigCommerce, Magento, Shopify, you name it. We will also continue to support and enhance Commerce Central, our write-once, run-anywhere platform for developers."
Still, while Lexity will continue to operate, it will also be adopting Yahoo branding over the next few months. The company says it has no plans to change its pricing structure based on the acquisition, and that customers should not expect to see any immediate changes to their apps.
"We constantly add new apps, improve existing apps, and occasionally sunset apps depending on business priorities - but rest assured, joining Yahoo! will only give us more resources to improve our services for users and developers," the company said on the FAQ section of its website.
"We will continue to support the current platform, the Lexity Live app, existing customers, and third party apps and developers. In the near future, we plan to integrate the service with the Yahoo! Small Business offering," a Yahoo spokesperson told VatorNews.
Founded four years ago to the day, Lexity is an e-commerce company that helps small businesses strengthen their online stores by providing them with a gallery of apps that they can purchase for a montly fee. These apps are designed to assist them with everything from marketing needs to improve their sales.
For example, some apps for purchase include Lexity Live, which allows businesses to track their customers in real time, get actionable insights on their business, and see historical trends for their store traffic; Facebook Live Store, which lets them get their products listed in Facebook to drive social engagement and traffic; Google Shopping, which get their products listed on Google Shopping; and Olark, which allows them to live chat with their customers for sales and support.
The company says it supports millions of merchants hosted on all commerce platforms including Magento, Etsy, Ebay, Yahoo!, BigCommerce and Shopify. It also serve tens of thousands of customers across 114 countries.
Lexity, which was originally called Vurve, has raised $5.7 million in funding, including a $4.5 million Series A in March 2011 from Spark Capital, with participation from Dave McClure and True Ventures.
It should also be noted that Kumar has a long history with Yahoo, having worked there, first as an engineer manager of Web search for over two years, then as Director of product management for Yahoo Search for another year.
The news that Yahoo looking to buy Lexity was first reported by AllThingsD last week.
Yahoo's other purchases
Yahoo has now made 20 purchases since October.
The first one was Stamped, the Justin Bieber-backed mobile app that lets users “stamp” and share their favorite restaurants, movies, books, and music, which was purchased in October; and OnTheAir, a video chat service that can be used for casual hangouts or to organize largish webinars.
In January, Yahoo bought social news start-up Snip.it In February, Yahoo purchased location discovery app Alike, and then, earlier this month, Yahoo acqu-hired the team at personalized recommendation service Jybe, giving the company both a location service, and now a team with knowledge in personalized recommendations.
The company then bought real-time polling tool GoPollGo and frequent flier search startup MileWise on the same day, before also purchasing PlayerScale, which makes software infrastructure for cross-platform gaming.
July has been a particularly busy month for Yahoo: in addition to Lexity it also acquired fantasy sports app Bignoggins; rich media service Qwiki; email and address book management app Xobni; advanced mobile ad technology startup Admovate; and social data analytics platform Ztelic.
(Image source: https://blog.lexity.com)
Read more from our "Trends and news" series
The company has a partnership with UPS to provide drone services to hospitalsRead more...
The company plans to have 100 clinics around the country by next yearRead more...
Related Companies, Investors, and Entrepreneurs
Joined Vator onXobni offers a new way to organize and search your Outlook email. Xobni creates profiles for each person that emails you. These profiles contain relationship statistics, contact information, social connections, threaded conversations, and shared attachments. Our users tell us that Xobni makes your inbox work the way your mind does.
Joined Vator on
alike enables you to use the places you like to find new places you’ll love.
Keywords suck. First, they are too simplistic. When you search for a coffee shop a keyword based engine won’t know if you wanted the best java in town or a nearby place to crank out some emails. Second, they are too vague. Google returns 12,938 results for coffee shops in San Francisco. And finally, they are generic – with rankings based on popularity/SEO rather than relevance. None of the current options let you organize results to find what you really want.
The alike engine takes search beyond the keyword to solve this problem. Using alike anyone can simply enter the name of something they enjoy, alike will identify this ‘entity’, and then alike will provide the user with similar ‘entities’ that they will love.
The alike search engine has developed a semantic understanding of many different entities (places, products, people) and their attributes (locations, cost, reviews, preferences).