Yahoo! buys Snapchat rival Blink

USPA News - Yahoo!, Inc. has acquired Blink, a mobile application that allows their users to share self-destructing messages, but the app will be shut down soon so the team behind it can work for the internet giant, the companies announced on Wednesday. Founders Kevin Stephens and Michelle Norgan, both former Google employees, said in a blog post that Blink had joined Yahoo! on Tuesday, but terms of the deal were not disclosed. Yahoo confirmed the seven-member team behind Blink and a location-based service called Kismet had joined the company.

Blink allows its users to send self-destructing text messages, audio, sketches, video, and photos, making it a competitor for the popular Snapchat app. Snapchat reportedly rejected a $3 billion acquisition offer from Facebook last year, after which the social networking website bought mobile messaging app Whatsapp for $19 billion. "We built Blink because we believe everyone should be free to show the same honesty and spontaneity in their online conversations as they can in person," Stephens and Norgan said in their blog post. "We look forward to the possibilities that will come from bringing the Blink vision to Yahoo." But the acquisition is bad news for Blink users as the company said its mobile applications will be shutting down in the next few weeks. "We can`t begin to express how grateful we are for your support throughout this journey. We hope you stick with us through the next chapter," they said. Yahoo CEO Marissa Mayer has led the acquisitions of dozens of start-ups over the past two years in an attempt to revamp the internet giant. "The entire team behind Blink and Kismet will be joining our mobile team in Sunnyvale where they will focus on smart communication products," said a Yahoo spokesperson, who declined to be named.