Yahoo announced the acquisition of social bookmarking website Del.icio.us.
Joshua Schachter, the founder of Del.icio.us, confirmed a posting on the New York-based start-up's site that the company had been acquired by Yahoo. A Yahoo spokeswoman confirmed that the agreement to buy Del.icio.us had closed on Friday.
Financial terms were not disclosed.
"We are joining forces to build my vision of creating a way for people to remember things together," Schachter told Reuters in a phone interview. "It is a shared memory site."