Wirlpool Corporation has reached an agreement to acquire Yummly, a company founded in 2009 by David Feller and Vadim Geshel, that provides a digital platform (mobile and web) for personalized recipes and cooking resources. Since its inception, Yummly has been active in the digital kitchen and connecting users to the recipes they love, offering recipe recommendations, handy tools and helpful videos. The company, headquartered in the heart of Silicon Valley, uses patented technology and proprietary data to understand food and taste, making it the best source for recipes tailored to specific taste preferences. Today Yummly boasts more than 20 million registered users and is one of the world’s largest digital recipe platforms. According to Whirlpool, the acquisition strengthens the company’s ability to bring purposeful, consumer-relevant innovations to market in the emerging IoT space.
«We are committed to introducing new products to market that remove complexity from the day-to-day lives of consumers. Increasingly, these products will be defined by both physical and digital experiences. Yummly brings an outstanding platform on which to begin building our digital product offering – said Brett Dibkey, vice president, Integrated Business Units for Whirlpool Corporation.
The transaction is subject to certain closing conditions and is expected to be finalized in May 2017. Terms of the acquisition are confidential and will not have a material impact on Whirlpool Corporation’s 2017 financial statements.
