Strengthens Social Strategy by Combining the Power of the No. 1 Online Sports Destination with the Web’s Most Popular Social Sports Company
— As part of its ongoing commitment to be the center of people’s online lives, Yahoo Inc. (NASDAQ:YHOO) today announced it has signed a definitive agreement to acquire Citizen Sports (www.citizensports.com), a company that brings the world of sports to fans’ favorite social networking sites and mobile devices through innovative applications. This acquisition will strengthen Yahoo!’s social strategy of enriching, aggregating and distributing social content from across the entire Web, and offering a highly customizable social experience.
“Yahoo! is in a unique position to combine our deep expertise in content and aggregation technology to offer a highly personalized social experience,” said Bryan Lamkin, senior vice president, Consumer Products Group, Yahoo!. “Sports has been among the earliest online categories to experience rapid social proliferation, and the combination of Citizen Sports leading products with our world-class sports experience on Yahoo! Sports is a win-win for sports fans globally.”
Millions of people across the globe use Citizen Sports’ array of social and mobile products to play fantasy sports, fill out brackets, check live scores and read up-to-the minute news on sports including football, hockey, soccer, baseball, racing, rugby, hockey and cricket. Yahoo! Sports’ content will be integrated into these products, creating a seamless experience for sports fans wherever they are. On Yahoo! Sports, users will be able to broadcast their allegiances, create or join a conversation with friends and fans and cheer for their teams through Citizen Sports’ applications. This integration will further transform Yahoo! into a more personally relevant experience, drive deeper user engagement and create opportunities for advertisers to interact with audiences in new environments.
As the #1 destination for online Sports with more than 39 million monthly unique users in the U.S.*, Yahoo! Sports provides people with the most timely, relevant and comprehensive sports news, information and programming. Citizen Sports’ network of popular applications for Facebook, MySpace, hi5, iPhone and Android span professional, college and high school sports.
“Citizen Sports was founded with the intent to enable fans to access news, scores and fantasy games on the platform of their choice,” said Mike Kerns, founder and CEO of Citizen Sports. “We look forward to becoming a part of Yahoo! and bringing our social experiences to their 600 million users around the globe.”
Citizen Sports was founded by Mike Kerns and Jeff Ma in 2004. Since then the company has brought together millions of sports fans from around the world to enjoy sports and connect with their friends. Citizen Sports is based in San Francisco.
Yahoo! expects to complete this acquisition in the second quarter of 2010. Financial terms were not disclosed.
* February 2010, comScore, U.S.
About Yahoo!
Yahoo! attracts hundreds of millions of users every month through its innovative technology and engaging content and services, making it one of the most trafficked Internet destinations and a world-class online media company. Yahoo!’s vision is to be the center of people’s online lives by delivering personally relevant, meaningful Internet experiences. Yahoo! is headquartered in Sunnyvale, California. For more information, visit pressroom.yahoo.com or the company’s blog, Yodel Anecdotal (yodel.yahoo.com).
Cautionary Note:
This press release contains forward-looking statements (including without limitation the quotations from management in this press release) that involve risks and uncertainties concerning the proposed transaction, and Yahoo!’s product plans and strategic and operational expectations regarding user engagement and advertising opportunities. Actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties. The potential risks and uncertainties include, among others, the possibility that the transaction will not close or that the closing may be delayed, the integration may experience difficulties, and the anticipated benefits of the transaction to Yahoo! and its users and advertisers might not be realized. More information about potential factors that could affect Yahoo!’s business and financial results is included under the captions, “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2009, which is on file with the SEC and available at the SEC’s website at www.sec.gov.
SOURCE: Yahoo Inc.
