Yahoo buys Rockmelt 'for $60-70m', then shuts down app

Yahoo has bought the social browser start-up Rockmelt for a sum believed to be in the region of $60-70m.

Despite the significant outlay, Yahoo seems more interested in Rockmelt's team and technology than the app itself - which has been dumped from the App Store and will be shut down after August 31, 2013, says Forbes.

Rockmelt's founders Eric Vishria and Tim Howes have been given impressive-sounding new roles at Yahoo, the former becoming president of product on Yahoo's media products and the latter named vice president of engineering for all of Yahoo mobile.

Yahoo said in a statement on its blog: “The parallels between Yahoo! and Rockmelt are obvious: we share a common goal to help people discover the best personalized content from around the web. We can’t wait to integrate the Rockmelt technology into our platform as we work to deliver the best experiences to our users in new and exciting ways.”