Yahoo Buys Flickr; IAC Buys Ask Jeeves

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Jerry Yang announced Yahoo’s acquisition of Flickr and Barry Diller’s IAC pays $1.8 billion for AskJeeves. IAC also launched Gifts.com, which combined with AskJeeves gets IAC quickly into the ecommerce and comparison shopping space. The Gifts.com backend database could easily be used to launch a Froogle or Shopping.com-like service as well.

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