Yahoo! Purchase Social TV App

Yahoo have stated their intentions for increasing their social media presence, by completing the purchase of TV sharing social app ‘IntoNow’. Financial terms of the deal have not yet been disclosed, however Yahoo! plan to use the service to increase their muscle in the mobile marketing and social media sectors.

The service allows users to see what shows their friends are watching, along with having discussions with other users, and finding related content to watch yourself, something which Yahoo! hope to use to increase video advertising revenue.

This news follows statistics that revealed, Yahoo’s profit for the first 3 months of this year was around $80million less than the same time period for last year, and they will be hoping that having this new service in their arsenal will help them boost profits once more.

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