Yahoo! snaps up Flickr

Yahoo!’s corporate development team has been busy as it extends its services for photos, tagging and blogging, with the acquisition of Flickr. Announced via Flickr’s blog (on a Sunday afternoon – there’s nothing in Yahoo’s press room at the moment). Is this the beginning of the end of formal press releases that a deal is launched through a blog post? Personally I think not, but it’s an interesting strategy – one which has gone totally under the radar of the mainstream media thus far.