Delicious, the social bookmarking service and Web 2.0 pioneer, will live on as part of a new Internet company run by YouTube founders Chad Hurley and Steve Chen.
Delicious, whose future had been in question since Yahoo announced its intention to divest itself of it last year, will become part of Avos, a new company Hurley and Chen have launched.
The YouTube founders plan to make Delicious "easier and more fun" as well as sharpen its ability to help users manage information overload, Avos and Yahoo said on Wednesday.
Delicious, founded in 2003 by Joshua Schachter who is no longer involved with the firm, helped usher in the Web 2.0 era of online applications, along with Flickr, which Yahoo also acquired and others.
Delicious lets users save, share, tag and annotate website links, providing a next-generation, cloud-based approach to the traditional storing of bookmarks within web browsers locally in PCs.
Yahoo acquired it in 2005 and indicated last year that it was seeking buyers for the social bookmarking service after deciding that it didn't fit in with the company's current strategy.
There will be a transition period for Delicious as it moves to its new home, but bookmarks will be maintained. Delicious users will get a chance to open new accounts with Avos.