In early 2011, Milewise raised a $1.5 million seed round from Atlas Venture, Founder Collective, General Catalyst Partners, High Line Venture Partners, iNovia Capital and a long list of big name angel investors: David Cohen, Geoff Judge, Mitch Kapor, David Kidder, Josh Kushner, Alex Lloyd, Tom McInerney, Jacob Pechenik, Keith Rabois, Naval Ravikant, David Tisch and Kal Vepuri. Self-dubbed “Mint + Kayak + Miles,” the company consolidates and tracks loyalty rewards from programs like frequent flyer miles, hotel points and credit cards. The overall loyalty industry is big, worth some $50 billion annually. A number of small startups, including, Belly, LevelUp and Square are attempting to make the messy situation of managing rewards and loyalty points easier to navigate for consumers. Milewise focuses exclusively on travel rewards. Why would Yahoo want a product like Milewise? Well, it has been on a buying spree of small startups, snapping up Stamped, Summly, and this week, Astrid, in an attempt to reinvigorate its company culture and image. Some commentators scoffed at Yahoo’s $30 million price tag for Summly, considering the company’s product will be killed. The price tag for Milewise was not clear. It’s also not clear whether Yahoo will shut down the product. Get the full story at Skift.com