Web services company AOL has acquired Israel-based social search questions and answer service Yedda to incorporate the Q&A functionality into programming areas on AOL.com.
Yedda was founded in 2006 and offers semantic matching technology, which routes questions to relevant communities of internet users. It allows its users to search an answer to a specific question and also allows its visitors to reply to the questions posted by other users. The company employs approximately 20 people and operates in the US and Europe. It also has an R&D center in Israel. After the acquisition, Yedda will operate as a wholly-owned subsidiary of AOL.
Incorporating Yedda’s unique technology into AOL enables us to bring together our traditional search resources and an entire community of people to help users quickly find answers to questions, said Ron Grant, president and chief operating officer at AOL.
The services and technologies our team developed are a perfect fit with the AOL strategy. We will continue to empower knowledge communities throughout the web, directly and through our network of partnerships, and we’re looking forward to weaving our unique value into the various AOL properties, said Avichay Nissenbaum, co-founder and chief executive of Yedda.
According to Total Telecom, a global communications news website, AOL has been on a $1 billion buying spree as part of a transition from being a subscription-based internet-service provider to a digital advertising network.
As part of the transition, AOL also acquired New York-based online advertising company Quigo Technologies in November 2007 and cell phone advertising firm Third Screen Media in May 2007.
Yahoo also offers a Q&A service similar to Yedda called Yahoo! Answers.
Source: ComputerWire daily updates