Instagram co-founders Kevin Systrom and Mike Krieger have sold their artificial intelligence (AI) news app, Artifact, to Yahoo. Yahoo said in an announcement today (April 2) that the news app will no longer be a standalone platform as its technology and features will be integrated with Yahoo, specifically Yahoo News. The acquisition was completed on March 29th. Financial details were not disclosed.
Systrom and Krieger launched Artifact, a name that combines articles, facts, and AI, a little more than a year ago in January 2023. We use AI to curate relevant news articles It provides a personalized feed for users, comparable to emerging apps such as Apple News, Google News, and SmartNews.
In January of this year, the founders announced: Shut down the app, “The market opportunity is not large enough to continue investing in this way,” they wrote. According to today's press release, both will remain at Yahoo and work together in an advisory capacity.Systrom In a statement, Yahoo said it recognizes the opportunities AI requires. “We provide a better experience for users to discover great content that interests them. ”
“We've built an intuitive product experience that our users love, and we've created an opportunity to benefit millions of people,” Systrom said. “Yahoo brings us the scale to help our products achieve what we envisioned, while remaining true to our belief that connecting people to trusted news and information sources is as important as ever. Ta.”
Other news organizations are also considering doing business with AI companies. Some companies are turning to Big Tech, such as Semafor's partnerships with Microsoft (MSFT) and OpenAI. Breaking news feed called Signalsand Axel Springer in collaboration with OpenAI. Incorporate AI into your brandBusiness Insider and Politico. Much of the industry is still make a decision How to properly address this technology and whether it is appropriate for use in newsrooms.
