Google is going to likely acquire Wavii, a summary startup that helps you “consume content,” soon. But sources very close to the deal tell VentureBeat that this has not happened yet.
We reached out to Wavii’s chief executive Adrian Aoun, who declined to comment.
Rumors about a deal between Google and Wavii first appeared last week, although at the time sources close to the companies cast doubt on the story. Now, we understand from multiple sources, a deal is in the works — although it is not final. We believe that it will close within a week.
One source told us that the acquisition price would be between $30 million and $40 million.
Wavii’s technology looks at pieces of content and summarizes them into quick, digestible blurbs people can use to help decide what to read. It’s rumored that the team will move from its Seattle headquarters and join Google’s Knowledge Graph team. We have not been able to independently confirm this, but it makes sense, given Wavii’s language processing capabilities.
Yahoo recently purchased a similar company, Summly, which it has already started incorporating into its mobile apps. When a hot technology is involved, deals like these generally entertain many offers, and this can draw out negotiations.
Wavii was founded in in 2009 and has thus far raised $2 million in funding.