Last April we brought you the profile of New York startup Stamped. Stamped, which is made up of a team of 11 with five being Xooglers, created a recommendation platform that allowed users to put their “stamp of approval” on their favorite places and things.
Stamped offers a unique value proposition by having a quick, easy to understand way of providing recommendations without having to read 1500 word reviews. It’s the recommendation platform for those on the go.
Stamped marks the first Yahoo acquisition under the leadership of new CEO Marissa Mayer who took over the helm at Yahoo six weeks ago after a thirteen year stint at Google.
Prior to this announced acquisition, Stamped had already attracted the attention and investment from Bain Capital Ventures and Google Ventures. Their first round of funding was $1.5 million dollars. They also have rockstar advisors like Instagram founder Kevin Systrom and food personality Mario Batail.
Financial terms of the acquisition were not disclosed. Mayer made it clear that acquisitions were part of Yahoo’s strategy going forward, in her first quarterly earnings call earlier this week. Several tech and startup focused sites have been speculating on some of the other possible target startups in Mayers cross hairs.
On Tuesday we brought you the story about the hot and heavy rumor that Yahoo may be looking to acquire Baltimore mobile ad startup Millennial Media.
Like Millennial Media, Stamped is a natural fit for Yahoo who hasn’t had a good review product, much less a mobile product for reviews. Mayer also said that mobile was one of the key focuses for Yahoo going forward as well.
Yahoo Senior Vice President Adam Cahan told the Associated Press that Stamped would be “a great asset as we expand Yahoo’s mobile efforts and build a world-class mobile development organization.”
Stamped issued a statement on their website today that said:
“We’re excited to start work again on something big, mobile, and new — but we can’t discuss the details just yet. And we’re really stoked to be able to hire lots of talented engineers and designers for this new project.”