Is it 1999 again? The heady days of the dot-com boom are long past and yet Yahoo’s sudden binge of acquisitions – some of them of dubious value – betray the same irrational exuberance and hope. This year so far, Yahoo has snapped up 10 companies. This is not that
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Roelof Botha, the grandson of former South African foreign affairs minister Pik Botha, was closely involved in the funding of social networking site Tumblr, which Yahoo this week agreed to buy for US$1,1bn. Pretoria-born Botha, who served on Tumblr’s board of directors, was also a key role player in the $1,5bn, 2002 sale
Described by its founder, Gerhard van der Westhuizen, as a “social publishing network”, Pretoria-based Internet start-up Snaglur has managed more than 50 000 sign-ups and generates about 15 000 unique visits a day just two months since launch. Similar to US social platforms Tumblr and Posterous