Yahoo acquires,20th in row a start-up venture owned by Indian ex-employee

ANI  |  Sydney  August 1, 2013 Last Updated at 15:51 IST

Yahoo CEO Marissa Mayer purchased four-year-old start-up Lexity, founded by Amit Kumar for an undisclosed amount

Internet Corporation Yahoo, continuing with its acquisition spree has reportedly bought e-commerce platform founded by one of its ex-employee.

According to Stuff.co.nz, Yahoo CEO Marissa Mayer purchased four-year-old start-up Lexity, founded by Amit Kumar for an undisclosed amount.

The company specializes in software applications that help small businesses attract and service customers and boasts of boasts tens of thousands of clients spread across 114 countries.

Kumar said that the company has been humbled by the overwhelming positive response and is excited to join Yahoo and continue operating as independent offerings by supporting the Lexity Live app, existing customers, and third party apps and developers.

He further said that the company aims to integrate the service with the Yahoo Small Business offering.

The report said that the latest acquisition being the 20th in row since Mayer became the CEO of the company follows purchase of billion-dollar takeover of Tumblr apart from other smaller ventures like Qwiki, Xobni, Bignoggins, etc.

In a bid to revive the once popular internet compant, Mayer's revival strategy includes making priorities of mobile devices, video, personalised digital content, and elevating the company's popularity outside the United States, the report added.