Yahoo snaps up e-commerce startup Lexity
The tech giant acquires the "one-stop-shop of e-commerce services" and plans to keep the startup's products and initiatives up and running.
Yahoo is adding another startup to its shopping cart. The e-commerce company Lexity announced on Wednesday that it was being acquired by the tech giant.
Lexity was founded in 2009 by former Yahoo product management director Amit Kumar. The startup calls itself the "one-stop-shop of e-commerce services." It comes with its own App Store and has marketing apps that aim to help online merchants drive sales. Lexity has "tens of thousands" of customers in 114 countries worldwide.
According to Lexity's announcement, all of its products, services, and initiatives will keep running on its platform and be no different on Yahoo. The only thing to change will be the rebranding of the company.
"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," Kumar wrote in a blog post. "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."
When contacted by CNET, Yahoo also confirmed that Lexity will keep running its platform. "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 CNET. "We aren't disclosing financial terms."
Yahoo has been on a buying jag over the last few months. It made a splash when it acquired Tumblr for $1.1 billion in May, but it has been gobbling up other companies as well, including news-reading app Summly, conference-call service Rondee, iOS camera app maker GhostBird Software, storytelling app Qwiki, and e-mail address book startup Xobni.
Yahoo also recently announced it will shut down a dozen products to instead "focus on creating beautiful products that are essential to you every day."
Updated August 1 at 3:15 p.m. PT with comment from Yahoo spokesperson.