Yahoo acquires Zofari
When it comes to online searches, the more targeted they are, the better. A user making an inquiry online will often be looking for a specific thing, and the closer their search result can be to what they were looking for, the more satisfied they are likely to feel with the search service. Internet search engines are in competition with each other, and often acquire new technologies to complement and enhance existing offerings.
It was reported recently that Yahoo has made an acquisition of an application that provides recommendations for local places, according to Tech Crunch. The application, called Zofari, likens itself to the type of services provided by Pandora and Netflix, which give users recommendations for music and movies. This allows users to make new discoveries that they might like to try in local areas. An article from the Silicon Valley Business Journal details that the app can recommend restaurants, bars and more.
"Zofari and Yahoo share a common goal to make the world an easier place to explore for as many people as possible. We're thrilled to welcome the team to Yahoo, where they will join our growing Search organization and continue to build amazing discovery experiences," a Yahoo spokesperson told the Silicon Valley Business Journal in an email.
Zofari is based in San Francisco. Tech Crunch reports that the company's four employees will join Yahoo, meaning that Yahoo is also gaining the talent as well as the technology.
As has been noted previously on this blog, a company creating technology that a larger company would find beneficial may find themselves approached with the prospect of an acquisition deal. An experienced M&A advisor can help plan a workable acquisition strategy.