Yahoo acquires Blink, SnapChat's biggest rival, plans to shut it down

A growing trend in the tech world seems to be building a product designed to get you noticed by the big tech companies in hopes that they will acquire you for your talent and IP, and that seems to be exactly what has just happened to SnapChat rival Blink. Blink is an app that allows users to send self destructing instant messages, and functions similarly to how SnapChat works, and today the company announced that Yahoo has swooped in and picked it up.

"I can confirm that the entire team behind Blink will be joining our mobile team in Sunnyvale where they will focus on smart communication products," a Yahoo rep confirmed in a statement. Unfortunately, Yahoo plans to shut Blink down and will use the development team and founders to work on other Yahoo products. Details of the acquisition were not very clear, and at the moment, no word on how much the deal was worth has been released.