Oh, so you thought Yahoo’s acquisition spree was over? Not even close. A Yahoo spokesperson has confirmed that the revitalized web giant has snapped up yet another company — this time its a image recognition startup called IQ Engines.
Yahoo has declined to disclose the terms of the deal, but the IQ Engines team confirmed in a statement on their website that they have been tapped to join the Flickr team where they will be “working on improving photo organization and search for the community.”
IQ Engine first made a splash back in 2010 when it snapped up $1 million in funding for working to craft an API that would allow its customers (think online retailers and app developers) to provide the ability to tag and visually search for images. It later appeared at that year’s DEMO Conference, where our own Alexia Tsotsis picked it out as one of the show’s most impressive startups.
More recently though, IQ Engines locked up a $3.8 million Series B from Third Point Ventures and Motorola Solutions’ venture arm (not to be confused with the totally separate mobile division that Google now owns). While IQ Engines’ main bread and butter was offering image recognition APIs to in was working on a mobile application called Glow that organizes the images on your smartphone into categories based on automatically-generated tags.
This a developing story, please refresh for updates.
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