Viaweb, Inc was a privately-held company providing the No. 1 ranked software and reporting tools for building and operating online commerce Web sites. Prior to its acquisition by Yahoo, Viaweb received numerous industry awards. In industry-wide comparisons of online commerce tools, Viaweb Store was rated No. 1 by ZD Internet magazine (July 1997), won the Editors' Choice award from PC Magazine (Nov. 18, 1997) and received a four-star rating from PC Computing (October 1997).In June 1998, Yahoo announced the acquisition of Viaweb. The acquisition is part of Yahoo!'s strategy to expand its popular merchant services program to enable small and medium-sized businesses to cost effectively build, promote and operate online storefronts. The acquisition was valued at approximately $49 million. Under the terms of the agreement, Yahoo! issued approximately 455,000 shares of Yahoo! common stock in exchange for all outstanding Viaweb shares, options and warrants. The acquisition was accounted for as a purchase and Yahoo! expected to incur a one-time charge of approximately $45 million in the second fiscal quarter of 1998 relating to in-process technology acquired in the transaction. Notably, Viaweb's president was Paul Graham who went onto found accelerator program, Y Combinator.