Tomahawk, WI 12/10/2013 (BasicsMedia) – Yahoo! Inc. (NASDAQ:YHOO) announced on Friday that it has acquired an online platform for live concerts, Evntlive, which will broadcast live events and concerts to online viewers.

About Evntlive

The California-based company, Evntlive, was founded in the year 2012, and it launched the beta version of its service in the month of April in 2012. The company allows users to stream live events and concerts on their tablets, computers, and other mobile devices.

Deal

According to the deal, the existing service of the company will be shut down, and its team will join the video unit of Yahoo on Yahoo music and Yahoo screen. This statement was made on the website of Evntlive on Friday afternoon. The company, Yahoo, seems to continue with its goal of focusing on its video business. In order to achieve the aforementioned target, the company is acquiring small companies with some strategic value.

Competition

YouTube of Google Inc (NASDAQ:GOOG) topped the list of unique viewers with 167.0 million unique viewers according to the comScore report of August, 2013, followed by AOL, Inc. (NYSE:AOL) with about 71.2 million unique viewers. Facebook Inc (NASDAQ:FB) has 62.2 million unique viewers whereas Yahoo has 45.0 million viewers. This shows that Yahoo still has to go some way to top this segment. Hence, this acquisition can help in strengthening the position of Yahoo among advertisers.

Other Acquisitions

The company has taken its YoD acquisition tally to 25 after this acquisition. In June, 2013, the company acquired Tumblr, a micro blogging platform. A month later, it acquired AdMovate, a mobile advertising specialist. Recently, it acquired SkyPhrase, natural language processing firm. The company purchased 8 companies in the 3Q’13, the net cash impact of which was $163 million.

The search business of the company is showing some signs of improvement. The company still has a major task which is to add value to its user base, which will help in bringing its advertisers back.

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