Rockmelt started by offering a web browser that was heavily integrated with Facebook and other social networking sites, but then the company pivoted to Flipboard-like social reader. Since it was founded in 2009, the company raised nearly $40 million from top-shelf investors including Andreessen Horowitz, Accel Partners, Khosla Ventures, SV Angel, and First Round Capital.
Like many other services Yahoo has purchased in the past year, Rockmelt’s apps and web product will shut down (their final day is Aug. 31).
The Rockmelt team says it will bring its experience to Yahoo and that it shares Yahoo’s mission to help people discover new content. Rockmelt’s departure blog post notes:
Yahoo! and Rockmelt share a common goal: To help people discover the best content from around the web. In our short four and a half years at Rockmelt, we’ve learned a lot about how you like to browse the web, discover content, and share the great stuff you’ve found. You’ve been right by our sides as we’ve celebrated successes, endured failures, and invented new ways of doing things. You’ve taught us a ton. And we plan to put everything we’ve learned to work at Yahoo!.
Yahoo has been buying quite a few companies that have either talent or technology that it thinks will help jumpstart innovation there. Just a few days ago, Yahoo purchased e-commerce app Lexity.
The terms of the deal were not officially disclosed, but AllThingsD says Yahoo paid $60 million to $70 million for it.