On the Air has been aquired by Yahoo! for an undisclosed amount. This quite popular video chat application will hopefully help Yahoo gain some momentum in the race to compete with Google's Hangout.
On The Air launched 9 months ago and took the world by storm. This video chat application was founded by five members who will all be joining the Yahoo! team to compete with Google and hangouts or mobile video chat applications. The application itself is is built around WebRTC, which is an Open Source framework that powers Hangouts designed by Google.
All five of the founders will be going to Yahoo! and will be working under Adam Cahan on the mobile team. The founders include Abel Allison, Daniel Hopkins, Erik Goldman, Josh Schwarzapel and Mike Kerzher.
This is a very momentous occasion for the once largest search engine. This could be the opening of the door to bigger and better things from Yahoo!. The only thing we can do is wait to see what they do with the software, where they take it and to what degree they choose to make it better. Yahoo says 'hiring talented mobile product thinkers & engineers is a big priority.'
OnTheAir.com has this written on their homepage:
Friends of OnTheAir,
We are excited to share some big news: OnTheAir has been acquired by Yahoo!.
When we started OnTheAir, we had dreams of building a company that made a difference in the daily lives of millions. Our pursuit was challenging: We put in late nights together. We debated intensely. We worked like crazy to build a product we were proud to put our name on.
Despite the challenges, our experience has been a rewarding one. We got to launch multiple products to a wonderful community. We were coached and mentored by some of the brightest investors and advisors in Technology (see our list below and work with them if you ever get the chance!). Most importantly, we developed deep bonds as a team and learned how to work together as a unit.
While we haven’t yet attained our dream of building a widespread daily use product, we are just as committed to it. And this is why we’re so excited to be joining Yahoo!. When we first met with the team at Yahoo!, it was clear that everybody there is committed to making mobile products the backbone for the world’s daily habits. All in all, it’s a fascinating time to be joining Yahoo!. There’s a tremendous amount of energy in the company. There are big things to be done and great products to be built, and we’re thrilled to be a part of it.
We want to conclude this letter with a word of gratitude. Thank you to all of our customers, team members, mentors, advisors, investors, consultants, friends, and family for being a special part of OnTheAir. Building a company is no easy task, and we realize we wouldn’t be anywhere without your support.
The OnTheAir Team
Abel, Dan, Erik, Josh, and Mike