AdMovate’s website displays nothing but a letter from the team announcing the move to Yahoo:
“When we started AdMovate in 2012, we built a product enabling advertisers to create and deliver personalized, hyper-local targeted offers through the mobile channel. We’ve always been passionate about helping marketers engage their consumers at the right time and place through personalized messages.
In Yahoo!, we found a team which shares our vision and is investing to make it real on a massive scale. We’re thrilled to join Yahoo!’s advertising team where together we will execute that vision faster and address the most important mobile advertising challenges for our customers.
We’d like to thank everyone who supported us along the way: Our partners, our advisors and our investors.”
The letter from AdMovate seems to indicate that the company was bought for their talent, rather than the product, which may not have even launched yet (note the lack of mention of a product or clients in either company’s blog post). Yahoo’s blog post also notes that AdMovate will join the Yahoo! advertising team:
“This acquisition is part of our efforts to invest further in our ad tech platforms—Apt, Genome, and Right Media—and make buying easier for advertisers and agencies. Admovate’s personalization technology accelerates our capabilities in mobile advertising, and we gain an exceptionally talented technical team. Admovate’s engineers will join our Yahoo! display advertising team in Sunnyvale.”
In yesterday’s quarterly earnings call, CEO Marissa Mayer noted that advertising is a focus for the company moving forward.
Terms of the deal were not immediately disclosed.