Home Business Luminate acquired by Yahoo to improve mobile ad business

Luminate acquired by Yahoo to improve mobile ad business

Ads

Yahoo CEO Marissa Mayer has been on a roll since becoming CEO two years ago, buying companies left and right that aid Yahoo in its efforts to rise to the top of mobile dominance once again. The company has millions of users with its Yahoo email service, but it is no secret that Facebook and Google are the giants in the mobile ad sector.

Yahoo just increased its chance to compete with its acquisition of image advertising company Luminate. Luminate CEO James Everingham stated on the company website that Luminate will aid Yahoo in a shared goal: “Our novel crowdsourcing and image detection technology has fundamentally changed how advertisers think about their image content. We are thrilled to be joining Yahoo where we can continue to bring innovative experiences to an even larger audience,” Everingham said.

See also: Google to create YouTube Music Key service

Luminate is an imaging mobile ad company founded six years ago (2008) by employees of Netscape and LiveOps. Headquartered in Mountain View, California, Luminate is a private company that is funded by the likes of Nokia Growth Partners, Shasta Ventures, Google Ventures, CMEA Capital, and August Capital.

Ads

Earlier this Spring, Luminate announced that it would create an “AdSense for images” platform where images would be used to target certain products for which consumers search often. The company sees over 6 billion image views and services over 180 million users monthly.

See also: Google Takes on Amazon in same-day delivery

The Luminate acquisition is not the only one this year for Marissa Mayer’s company; she has also purchased companies such as video streaming company RayV, concert-streaming platform EvntLive, smart launcher Aviate, photo-sharing company LookFlow, and URL company Bread, and Ptch, the Dreamworks Animation startup Ptch. Yahoo has purchased 40 companies in her two-year reign at Yahoo.

 

 

Ads
Previous articleGoogle to refund $19 million to parents for children’s unauthorized app charges
Next articleCalifornia blue whale levels return to normal, according to new report
An entrepreneur by birth, blogger by choice, and geek by heart. He founded Sprouts Media, a blogs/websites network company, currently owns over 10 popular web properties, to cater his passion of journalism and entrepreneurship. He is also known as an avid reader, technology enthusiast, explorer, and a broken lover. His passion for knowledge keeps him running all the time. A pure vegetarian, who believes in reincarnation & law of karma and follows the philosophy of “Live and let others Live” because all living beings have equal right on the resources of this planet. He loves to write about Technology and Social Issues on his blogs. He can be reached at nitin [at] sprouts.media.