Mayer Buys Bieber-Backed Stamped

In her first acquisition as Yahoo CEO, Marissa Mayer went shopping for mobiles personal recommendations with the ioses app Stamped. The company gained attention in July of this year for attracting celebrity investors like Justin Bieber, Ryan Seacrest, and Ellen DeGeneres. Mayer revealed the news with a photo on Instagram, Yahoo confirmed the news on its […]
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Marissa Mayer with the Stamped teamPhoto: Marissa Mayer/Instagram

In her first acquisition as Yahoo CEO, Marissa Mayer went shopping for mobiles personal recommendations with the ioses app Stamped. The company gained attention in July of this year for attracting celebrity investors like Justin Bieber, Ryan Seacrest, and Ellen DeGeneres.

Mayer revealed the news with a photo on Instagram, Yahoo confirmed the news on its corporate blog, and Stamped put up a blog post. Neither Stamped nor Yahoo would divulge the terms of the deal, but Stamped has raised a total of $3 million from Google Ventures, Bain Capital Ventures, and several celebrities.

Stamped co-founder and CEO Robby Stein previously worked with Mayer when they were both at Google. Now, he and his co-founders Bart Stein and Kevin Palms will head up the first mobiles product development and engineering office in New York for Yahoo. All nine of Stamped's employees will join Yahoo's team.

The year-and-a-half-old company built an ioses app where people could recommend their favorite restaurants, books, movies, shops, music, and apps to friends and family who also used the app. Instead of rating with stars or numbers, like you would on Yelp or Amazon, you just "stamp" a favorite business or product to show your approval. As your social circle joined the Stamped community, they'd get a guide of things to check out, vetted by someone they trust and not a random stranger. Bieber, DeGeneres, and other celebrities also signed on to be "tastemakers" in the app, sharing what they loved. Besides his adoring tween fans, Bieber lovesMichael Jackson's "Thriller," the classic Stuart Little and a Japanese restaurant in Los Angeles called Sushi Dan.

The Stamped app will shut down at the end of this year, but the company says the next big project, to be launched under the Yahoo banner apparently, is already in the works.