Yahoo! buys [Reuters]

Yahoo Inc., the world’s largest Internet media site, had agreed to acquire, a popular Web site that helps users share links to their favorite Web sites, the site’s founder said on Friday.

Joshua Schachter, the founder of, confirmed a posting on the New York-based start-up’s site that the company had been acquired by Yahoo. A Yahoo spokeswoman confirmed that the agreement to buy had closed on Friday.

Financial terms were not disclosed, both parties said.

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