Evntlive was founded in late 2011 and launched in beta in April 2012 after raising $2.3 million in funding from notable investors including Vint Cerf.
According to Mashable, post the deal, Evntlive will be shutting down its services and join the Yahoo team for their projects.
Evntlive said that since their beta service launch, they have live streamed hundreds of performances from amazing artists and festivals to fans all over the world adding that although, now their service will not be available, they are excited to join Yahoo.
Meanwhile, a Yahoo representative said that they were excited to welcome Evntlive and see a lot of potential for how they can expand upon their shared vision for an entertaining content consumption experience.
Since CEO Marrisa Mayer took charge of the once-popular internet giant, there have been many acquisitions with the most notable being that of Tumblr for a whopping $1.1 billion.
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