Yahoo Purchases IntoNow, Looks to Make More Social Media Inroads

Posted by on April 25, 2011 in Business News, Social Networking [ 1 Comment ]

By purchasing recent start-up IntoNow, Yahoo hopes to gain more of a foothold in the social media arena.

The Silicon Valley-based Internet giant announced April 25 that it had acquired IntoNow, which allows users to identify and share television programs with friends, even though the company has only been in existence since January 2011.

IntoNow works through an app on a user’s phone, whereby it scans the audio waves from television sets and identifies those shows on the airwaves. As the shows are identified, the service makes it simple to share them with friends using such social media venues as Twitter and Facebook. IntoNow had indexed more than five years’ worth of U.S.-based television programming, allowing it to identify content right to the airing date, episode details and time within the program.

Even though the companies did not disclose financial terms of the deal (TechCrunch reported the sale was for $27 million), one can’t help but think IntoNow’s team (seven people) may look at the sale with mixed feelings.

While company CEO Adam Cahan (former Google executive) says the IntoNow team is happy to become part of the Yahoo brand, global scale and reach, one must wonder if IntoNow might have wanted to grow some more in order to enhance its asking price.

As for Yahoo, it views the acquisition as an opportunity to grow its social media opportunities, having fallen behind sites like Facebook and Twitter in recent years.

Yahoo believes the IntoNow app Cahan’s team has constructed clearly shows the possibilities such technology offers throughout Yahoo!’s network. That feeling is thought to be especially true as it relates to Yahoo!’s video content, search, mobile and connected television experiences, according to a Yahoo spokesperson.

Is Yahoo likely to buy more companies that prove a good fit in an effort to improve its social media footprints?

You may just find out the next time you receive a tweet or come across a shared message on Facebook.

One thought on “Yahoo Purchases IntoNow, Looks to Make More Social Media Inroads

  1. avatarElias Shams

    Dave, It’s no brainer to see that social media is here to stay for good. Given vast variety of the existing channels to choose and stick with, it’s time for such a hot space to enter into a new category. There is a need for a portal to provide a quick and intelligent decision for both the consumer and the enterprise about their online connections.

    A Platform to Help us to Distinguish Our Quality vs. Quantity Friends, Fans, Followers, and Companies

    Facebook, Twitter, LinkedIn, Youtube, Flickr and others have been doing a decent job of providing additional marketing exposure and even in some cases, additional revenue. However, as more and more social networking sites pop up, how do you manage your brand across all these channels? Maybe more importantly, which one of these sites should you select as the one that will help you best reach your target audience? The proliferation of the social media avenues is becoming overwhelming.

    This glut of information reminds me of the early 90’s when WWW was adopted broadly by the general public. Every company rushed to have a presence, to the point it became literally impossible to find the right information on the Web. That’s when a better generation of search engines – at first the Yahoo! and then Google – entered the market and helped us find the most relevant information by just typing simple keywords in their search box. If you had asked before Google launched, if there was a need for another search engine – most would have said no, we already have those….

    Then came Web 1.0 & 2.0 – Youtube, Flickr, myspace, Facebook, Twitter and countless others have turned everyday people into content producers, influencers and experts. We basically tripled down on the information overload How do you know which channels to select for deploying your social media strategy? How do you know which one is the right channel to let your fans and followers to find you, your products, and services? Most importantly, who is Joe Smith that is recommending that person, that company, that product?

    I hope my can accomplish such a mission. The site is not another social networking platform. Yet the portal to all your existing social media channels. The platform helps you, your fans, your potential clients to make an intelligent decision as to which company to connect to or follow via which social media channels and why? It’s free!

    CEO & Founder

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