Bookmarking site was bought by Yahoo in 2005
Online bookmarking site Delicious has been acquired by YouTube founders Chad Hurley and Steve Chen. The acquisition will become part of their new Internet company AVOS.
Financial details of the transaction were not disclosed.
Delicious was launched in 2003 and bought by Yahoo in 2005.
Hurley and Chen had founded online video sharing site YouTube. In 2006, they sold it to Google for $1.65bn.
Hurley and Chen said they planned to integrate Delicious with their new California-based Internet company AVOS.
"We’re excited to work with this fantastic community and take Delicious to the next level," said Chad Hurley, CEO of AVOS. "We see a tremendous opportunity to simplify the way users save and share content they discover anywhere on the web."
The YouTube co-founders said they would seek to use the new acquisition to "develop innovative features to help solve the problem of information overload."
"We see this problem not just in the world of video, but also cutting across every information-intensive media type," Chen said.
Yahoo said that it chose to sell the company to Hurley and Chen over other contenders and that the sale was a part of their long term product strategy.
"We spoke with numerous parties interested in acquiring the site, and chose Chad and Steve based on their passion and unique vision for Delicious," said Yahoo SVP of Communications and Communities John Matheny.
Yahoo said the sale was part of a strategy that "involves shifting our investment with off-strategy products to put better focus on our core strengths and fund new innovation."
"We believe this is the right move for the service, our users and our shareholders and look forward to watching the Delicious technology develop," Yahoo said.
Yahoo will continue to operate Delicious until July this year.
