Yahoo to ramp up ad efforts with acquisition of image ad startup Luminate

Yahoo has acquired Luminate, a startup that focuses on advertising on top of online images.

The startup, which claims more than 180 million users and more than six billion image views each month, allows marketers to layer product, display and text ads over images.

It has been acquired by internet giant Yahoo for an undisclosed sum, after the company reported a seven per cent fall in display revenue.

Luminate’s service has currently been shut down.

Its CEO James Everingham said in a statement: “We are thrilled to be joining Yahoo, where we can continue to bring innovative experiences to an even larger audience.”

Luminate was a private company funded by August Capital, CMEA Capital, Google Ventures, Nokia Growth Partners and Shasta Ventures.

 

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