BizSugar.com › Online Marketing › How Google’s Wavii & Yahoo’s Summly acquisitions could hurt Marketers

In recent weeks, there are have been two near identical high profile acquisitions by search titans Yahoo and Google for news summarization apps. In late March, Yahoo snapped up Summly, a news summarization app for a cool $30M from a 17-year-old founder using licensed technology from SRI International. Almost exactly a month later, Google mirrored this move by acquiring Wavii, another news summarization app for $30M, reportedly auto-bidding Apple in the process. Similarly, LinkedIn recently finalized the acquisition of the popular mobile news reader app Pulse for $90M. This has left many scratching their heads as to why so much money all of the sudden has gone into simple apps.