14 DAY TRIAL // Yahoo has announced that it has acquired IntoNow, a 'TV check-in' startup which enables users to discover what show they're currently watching but also 'check-in,' to show it off to their friends.
The price hasn't been disclosed, but is rumored to be between $20 million to $30 million, when everything is factored in, i.e. cash, stock and performance bonuses.
IntoNow was launched early this year and Yahoo moved fast to acquire it. Rumor has it that other companies, notably Facebook and Twitter were interested in the company as well, signaling that other similar startups may be getting some offers soon if they haven't already.
"Yahoo! has acquired IntoNow, a cool technology with an application that allows users to find, discuss and follow their favorite television programs," Yahoo announced.
"IntoNow has indexed more than five years of US based television programming, creating a rich database to build video discovery and programming experiences," it explained.
IntoNow offers functionality for TV similar to what Shazam does for music. In fact, Shazam is said to have been one of the companies interested in buying it as well.
On top of offering recognition though, IntoNow also enables users to check-in with TV shows and share them with friends, adding a social layer to the experience.
"The addition of the IntoNow technology will enable Yahoo! to provide enhanced media experiences and video programming, bolstering its social engagement across the Yahoo! network and on all screens. IntoNow users are able to easily engage with friends around the shows they enjoy most," Yahoo added.
Yahoo is very much about the 'content' these days and has always had a strong tie with traditional media, so a service that is aimed at the TV-watching audience makes perfect sense for the company.
Hopefully, Yahoo will actually do something interesting with IntoNow and doesn't let it wither like it has with so many promising startups it has acquired before.