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Yahoo's Buying Plans Become Clearer with App Maker Tomfoolery Next in Line

TMCnet Feature

January 29, 2014

Yahoo's Buying Plans Become Clearer with App Maker Tomfoolery Next in Line

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By Steve Anderson
Contributing TMCnet Writer

Seems like every couple of weeks or so these days, there's been word about Yahoo looking to buy something. We've seen Yahoo go after content makers like Hitpost, the intelligent homescreen maker Aviate, and even the deep linking Sparq. But while all of these suggested a path Yahoo was looking to take, the newest reported target for Yahoo's ongoing buying spree makes said path look much better lit, and that purchase is mobile app maker Tomfoolery.


The newest reports, coming from the increasing standard of “people familiar with the negotiations,” suggest that Yahoo is in talks right now to pick up Tomfoolery for the sum of around $16 million. The deal isn't final, the reports note, so it may not come to pass, but the reports suggest that the talks are at “an advanced stage,” meaning that a deal is at least reasonably likely. Tomfoolery had previously raised $1.7 million from several investors including Andreessen Horowitz.

Should the deal go through, a former Yahoo employee would actually be coming back into the fold. The acquisition of Tomfoolery would bring with it Kakul Srivastava, who spent seven years at Yahoo before becoming Tomfoolery's chief executive, leaving the company in 2011. Additionally would follow Sol Lipman, who served as a vice president at AOL (News - Alert) before his tenure at Tomfoolery. Reportedly, Yahoo—as expressed by CEO Marissa Mayer—has a certain preference for Yahoo alumni, calling these folks “boomerangs,” and noting that 10 percent of Yahoo's hiring in 2013 was boomerang-based.

Perhaps the most interesting part about the deal is what it is that Tomfoolery makes. Tomfoolery's first software offering was Anchor, a system of simple apps that allows workers to more easily collaborate remotely, sharing files and discussing work projects and the like. It was unclear, as yet, as to whether Yahoo planned to keep Anchor alive, or simply wanted the team in place developing for Yahoo, as both concepts seem to have taken place in the over two dozen startups that Yahoo has purchased since Marissa Mayer took over in July of 2012.

It's unusual to see Yahoo dealing with a product that would really bolster telecommuting, especially after Yahoo famously shut down much of that particular operation last year. Indeed, Anchor would likely put a lot of help toward telecommuting and give remote workers a little extra edge in staying in touch, communicative and collaborative, with other employees. But then, there's nothing saying that Yahoo needs to use the services it offers, so it may be looking to grab onto a trend developing elsewhere. Additionally, since Tomfoolery is a mobile app developer, Yahoo may have simply wanted a little more firepower in mobile app development, a trend that has been increasingly on the rise throughout much of the online community, but especially at Yahoo. After all, several of the aforementioned purchases Yahoo's made of late could be seen as being in pursuit of such a goal. Tomfoolery's Android (News - Alert) experience likely couldn't hurt here either, as Yahoo hasn't done so well in the past on iOS.

Yahoo's likely looking to punch up its mobile presence, a development that's being echoed across much of the Web itself. Just where exactly all this takes Yahoo will likely be made clearer over the months to come, but it sure looks like Yahoo is pushing hard for mobile growth, a strategy that will likely serve it well given the overall movement in the field.




Edited by Ryan Sartor


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