From their blog:
We’ve always been passionate about the growing power of intelligent mobile experiences. We believe that distilled information, deeply personalized and made accessible anytime and anywhere, is what makes mobile experiences a part of our customers’ daily lives.
In Yahoo! we’ve found a team as excited about this vision as we are, and who are serious about making it real. We’re super excited to join Yahoo!’s mobile team, where we can march toward that vision faster than ever.
Yahoo so far has struggled in the mobile location discovery space. Google, Facebook, and other social networks have an advantage over Yahoo. With Alike acquisition, Yahoo is looking to stay in pace with Google+ Local and Facebook Nearby feature which recommends places to go based on friends recommendations.
As of yesterday, Alike mobile app and website are no longer active and the company will no longer support the app.