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Yahoo Acquires Bread To Shut It Down

|Includes:Yahoo! Inc. (YHOO)

Originally published at www.seclive.com

Yahoo! Inc. (NASDAQ:YHOO) announced it has acquired Bread, a startup company that helps people make money or collect donations. The two and half year-old company had raised $3.5M and was rumored to be searching for possible buyers because of running low on cash. Bread's design was to help people monetize your product, event, or cause you wanted to promote via social media. Bread will continue supporting its users through November 11th but has advised its users that links will become dead and that they should switch to bit.ly. Bread's six employees will work for Yahoo as Yahoo stated that Bread's mission aligns well with Yahoo's goals.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: YHOO