Yahoo is in talks to acquire Snip.it to add a social layer to its homepage, sources say.
Snip.it is a Pinterest-like curation tool that lets you “snip” content from the web, organize it, and share with friends on sites like Facebook and Twitter in a single click.
The company was founded by Ramy Adeeb, an Egyptian entrepreneur and a former principal at Khosla Ventures. It has raised funding from Khosla Ventures, True Ventures, Charles River Ventures and SV Angel.
We contacted Adeeb several times for a confirmation, but he declined to comment.
Sources close to the deal say Yahoo! CEO Marissa Mayer personally reached out to Snip.it’s founding team, and was on the hunt to acquire a social bookmarking tool. This acquisition is part of a broader strategy to help Yahoo become the leading destination for news content.
This story will be updated as we learn more.
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