Evntlive has been acquired by Yahoo. The financial terms of the acquisition are still under wraps. Yet once again Yahoo has shown its consumerist drive by purchasing the rights to Evntlive, a live concert streaming video platform par excellence. Marissa Mayer was on the shopping spree of a lifetime with companies like Tumblr and Lexity being added to the list. She plans to take Yahoo back on top of its game with the fresh transfusions of other energetic empires. Now that Evntlive too is the exclusive personal property of Yahoo, it seems the shopping trip of Yahoo is never going to end.
Evntlive has officially announced the acquisition on its website Friday. It states, "We are thrilled to announce that EVNTLIVE has been acquired by Yahoo!" Evntlive is a live concert streaming platform based in Redwood City-Calif. Evntlive startup was launched in early 2012 and its beta service was launched in April 2013. But this service has now expired for its regular users thanks to the merger with Yahoo. This may be an annoying interregnum in the usual flow of events but it is a necessary evil.
Meanwhile, the important question to ask is what is in this for Yahoo? Evntlive has now become a part of Yahoo's video team. Evntlive states that it "set out to change the way that fans engage with live music online by creating an interactive, virtual venue." And after launching its beta service in 2013, Evntlive have live streamed hundreds of performances from amazing artists and festivals to fans all over the world. Now as a part of Yahoo's video team, it will help growing its online music services like Yahoo Music and Yahoo Screen.
These acquisitions are part of the overall scheme of Marissa Mayer, CEO of Yahoo, to revamp the image and add solid substance to Yahoo’s previously weak outlook. The lady is a virtual dynamo who began by acquiring a series of companies and sites for huge sums of money. Many thought she was making a big mistake. But Marissa turned out to be a smart cookie. She has taken the search engine company from the brink of disaster back to a slow and steady climb to the top. In fact, under her tutelage the company might one day lock horns with the likes of Google and Facebook. The lean thinking and mending of ways at Yahoo will inevitably lead the firm in a more progressive direction.
By now the world is divided into three giants: Google, Apple and Facebook. With Yahoo behind them, it has nothing to lose and everything to gain by making it to the acme by sheer effort and hard work. And Marissa will make sure that, acquisitions aside, the organization succeeds in its goals.