Yahoo buys KTH bud
Kenet Works, the Swedish Internet company that got started by KTHs then “Incubator Service” in 2003, has been purchased by U S search engine giant Yahoo. Managing Director at Kenet is Gustav Söderström, who graduated at KTH. Kenet Works are developing various mobile community services.
More specifically, Kenet are producing technology for enabling web visitors to chat via their mobile phones, and also to use such functions as “push-to-talk”. One of their customers is the youth website Playahead. Also, Kenet Works have joint projects running with mobile operators 3 and Tele2.
– This is just super, says Gustav Söderström to Nyteknik.se. It will enable us to go on with our ideas – but on a much larger scale, of course. Our activities will remain here in Sweden, as a business unit under the Yahoo umbrella.
Kenet Works was founded by seven MSc engineers, the majority of them from KTH. Since their inception, Kenet have won several awards for their technological conquests. Last spring Gustav Söderström was also elected Entrepreneur of the Year by Internetworld.