News just broke via AllThingsD that Yahoo is poised to acquire startup Snip.It.
Snip.It is a social site that resembles a mash up of Pinterest's collections and Instapaper's ability to save links for consumption later.
AllThingsD reports,
Snip.it was founded by Ramy Adeeb, who was formerly a principal at Khosla Ventures, and has funding from Khosla, True Ventures, Charles River Ventures and SV Angel.
Yahoo is paying “mid teens” of millions of dollars for the company, according to an AllThingsD source.
Users organize links into collections and followers subscribe to collections based on their interests.
Snip.It has a pretty robust analytics feature baked in too so you can see exactly how many people are digesting the content that you curate.
I've been using Snip.It for some time now as a way to simply remember links that I want to read later.
Mayer's intent to acquire Snip.It falls in line with her plans for the future of Yahoo.
We're not sure what will happen to Snip.It after acquisition but hopefully it won't fade out of existence.
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