Yahoo wants to take on Meerkat, Skype and Snapchat all at once

Yahoo may have a way to restore some of its former glory in the messaging world. Tipsters for The Information claim that the company is building a mobile app that includes text messaging, Snapchat-style recorded video and elements of live video apps like Meerkat and Skype -- think of it as a hedge that covers all the hot trends at the same time. While you would only broadcast streams to your contacts at first, live streaming would eventually extend to communities like your fantasy sports league.

Yahoo hasn't confirmed anything, but you might see this multi-talented app as soon as this quarter (no later than June) if the rumor is true. Will it catch on? It's hard to say -- while the project sounds ambitious, Yahoo would be competing against rivals that all have a months- or years-long head start.

[Image credit: AP Photo/Marcio Jose Sanchez]