Yahoo Makes a Bet on Sports Mobile App Startup Hitpost
When Yahoo (NASDAQ:YHOO) CEO Marissa Mayer took the company’s reins a year ago, one of her main goals was to increase Yahoo’s footprint in the mobile space. Since her appointment, Mayer has hired a number of tech entrepreneurs and made several high-profile acquisitions in order to do just that.
Now, according to TechCrunch, the CEO is preparing to beef up Yahoo’s mobile profile even more, and this time, she is reportedly ready to take a gamble on sports.
That’s why Hitpost, the maker of sports-centric mobile apps, will soon be under the Yahoo umbrella, thanks to yet another Mayer acquisition. The ambitious CEO expects the eight-member startup’s sports expertise to help Yahoo bolster its mobile sports lineup on iOS and Android — hence, the Sunnyvale, California-based company is Yahoo’s newest team members.
Hitpost, known for its its Fantasy Football polls and Sports Bet apps, was founded in April 2009 by Aaron Krane. Since then, the company has raised $2 million thanks to the attention of investors like Floodgate’s Mike Maples, Khosla Ventures, RRE Ventures, and Quotidian Ventures.
Hitpost specializes in mobile sports betting, and, according to Tech Crunch, has a lineup of apps that facilitate live discussions and polls on athletes. Sports Bet is highlighted as its most popular app: Boasting between a reported 1 million and 5 million installs, it allows users to make virtual currency bets on who will win games or which player might end up with the most touchdowns, strikeouts, rebounds, etc.
But now the app is coming to Yahoo’s bench. Although it is unclear whether the founder will join Mayer’s team, the rest of the Hitpost eight-person crew definitely will.
Hitpost’s newest purchase is the second sports-related acquisition Mayer has made in three months — she picked up Bignoggins, another sports mobile startup, in July — and she likely isn’t stopping there. The CEO still has other areas, including sports, where she wants to continue recruiting talent, and it’s hard to predict where she’ll strike next.