Sunnyvale, California-based Yahoo announced Monday that they are acquiring television check-in app, IntoNow. According to The Associated Press, the terms of this acquisition have not yet been released.
IntoNow, based in Palo Alto, California, was launched just three months ago. It is run by Adam Cahan, a former Google Inc. and Viacom Inc. MTV employee. It currently has a modest 7 employees. But why would Yahoo be interested in a company so fresh to the scene?
It’s not a secret that Yahoo has been working towards reinventing itself. Although it is still a leading website, its revenue is failing to compete at the same pace as its rivals. Yahoo is pushing to provide more information-sharing services and, with this acquisition, hopes to achieve that goal.
IntoNow’s capabilities is outlined in CNET, described as being able to detect what a viewer is watching on television and letting that viewer share their program of choice via Twitter or Facebook. With this technology, it will be easier for friends to share what they’re viewing with one another. However, television shows are not the only thing that can be shared via IntoNow. According to The Associated Press, it also lets viewers identify their favorite commercials–a capability that may potentially help Yahoo sell more ads in their online videos.
While IntoNow is turning heads with this new concept, there are several other competitors out on the market, such as GetGlue, Miso, and the Comcast internally-built Tunerfish. With the “social-watching” sphere growing, such companies are vying to innovate with new features and enter deals with entertainment brands.