Yahoo! today announced that Delicious, a social bookmarking web service for storing, sharing, and discovering web bookmarks has been acquired by Chad Hurley and Steve Chen who are the founders of YouTube. The deal was settled at $5 million when it was rumored to have been available for up to $3 million. Yahoo! bought Delicious for $30 million in 2005, and dealt a huge loss to a service that was touted to bring the company a lot of profit.
Chad Hurley and Steve Chen buy Delicious
Yahoo! states that the founders of YouTube are committed to running and improving Delicious! They have experience in enabling millions of users to share their experiences with the world as creators of the largest online video platform: YouTube.
Yahoo! will continue to operate Delicious until around July 2011. This will enable a smooth transition period for both the users and the companies. User’s information will be moved over to Delicious’ new owner once the transition is complete.
From today onwards, when users login to Delicious, they will be prompted to agree to let Yahoo! transfer their bookmarks to the new owner.
To get more information on the Delicious transition please click here