YouTube Founders Buy Delicious From Yahoo

Yahoo-owned social bookmarking service Delicious has been acquired by YouTube founders Chad Hurley and Steve Chen for their new internet venture.

Delicious was set to be shut down by Yahoo, who is revamping its entire mode of operations in an attempt to increase profits.

The acquisition breathes new life into the popular service as the YouTube founders plan to improve the existing Delicious infrastructure and add new features to the platform. They also plan to integrate the platform into their new venture AVOS, an online social discovery service.

Delicious said in a blog post that Yahoo will continue to run the service until July 2011; after that it will hand Delicious over to its new owners. Delicious has also asked users to grant Yahoo permission to transfer their bookmarks to the new owners to facilitate a smooth transition.

According to an AVOS press release, the company plans to work closely with the existing Delicious community.

“We’re excited to work with this fantastic community and take Delicious to the next level,” said Chad Hurley, CEO of AVOS. “We see a tremendous opportunity to simplify the way users save and share content they discover anywhere on the web.”