Last Updated:
United States of America (USA)
The AI-driven information app might be a part of Yahoo’s broad net ecosystem
Yahoo mentioned on Tuesday it had acquired Instagram cofounders’ AIdriven information platform, Artifact, and can incorporate its know-how throughout the U.S. net companies supplier’s information and different websites.
(Reuters) – Yahoo mentioned on Tuesday it had acquired Instagram co-founders’ AI-driven information platform, Artifact, and can incorporate its know-how throughout the U.S. net companies supplier’s information and different websites.
The deal alerts continued ache for media begin-ups struggling to develop income at a time when Big Tech giants Alphabet and Meta Platforms appeal to the majority of promoting gross sales.
In January, Artifact mentioned in a blogpost it might wind down operations of its app as “the market opportunity isn’t big enough to warrant continued investment in this way.”
Yahoo, which additionally owns information manufacturers TechCrunch, Engadget and Yahoo Finance, mentioned Artifact’s AI-powered suggestion engine and different options will assist scale its information operations and ship personalised content material to viewers.
The on-line writer additionally owns a minority stake in content material suggestion platform Taboola.
Yahoo, which declined to share monetary particulars, was purchased out by non-public fairness agency Apollo Global Management for $5 billion in 2021.
Artifact was launched in early 2023 by Systrom and Mike Krieger. They had been earlier at Meta, then generally known as Facebook, after the corporate’s acquisition of Instagram in 2012.
The duo had left the Facebook proprietor in late 2018, which some media stories later described as attributable to their strained relationship with Meta boss Mark Zuckerberg and variations of their visions for Instagram.
Systrom and Krieger will work with Yahoo in an advisory capability throughout this transition, Yahoo mentioned in an announcement.
