Yahoo! has acquired a new video chat start-up OnTheAir for an undisclosed sum, as the internet giant looks to strengthen its mobile capabilities.
OnTheAir, which was launched nine months ago, has raised US$880,000 from investors including Triple Point Ventures, True Ventures and individuals, according to a report in The Wall Street Journal.
According to Yahoo! sources, it has acquired the five-member OnTheAir team for its talent, while the company’s product is not set to be continued.
"Hiring the most talented mobile product thinkers and engineers is a big priority for us moving forward. Abel, Dan, Erik, Josh, and Mike are a great addition to Yahoo!, and we can’t wait to work with them to create the best possible mobile experience for our users," said Adam Cahan, Yahoo!’s senior vice-president, Emerging Products & Technology, in a statement.
On its website, OnTheAir had this to say: "While we haven’t yet attained our dream of building a widespread daily use product, we are just as committed to it. And this is why we’re so excited to be joining Yahoo!. When we first met with the team at Yahoo!, it was clear that everybody there is committed to making mobile products the backbone for the world’s daily habits."