Yahoo on Tuesday announced the acquisition of Artifact, an AI-powered news platform co-founded by Instagram creators. Yahoo plans to integrate Artifact's technology across its news and other websites in the United States, media reported. The acquisition highlights the continuing challenges for media startups looking to increase revenue, especially as Big Tech giants like Alphabet and Metaplatform dominate the advertising market, according to news agency Reuters. The report states.
In early January, Artifact announced its decision to cease operations of the app through a blog post, citing insufficient market opportunity to justify further investment in that direction.
Also read: OnePlus AI Eraser image editing tool announced.Supported OnePlus models are:
The online publisher is also a minority shareholder in Taboola, a content recommendation platform. Yahoo chose not to disclose financial details, but was acquired by private equity firm Apollo Global Management in 2021 for $5 billion.
Yahoo, which is also the owner of well-known news brands such as TechCrunch, Engadget, and Yahoo Finance, is leveraging Artifact's AI-powered recommendation engine and other features to expand its news operations and deliver personalized content to viewers. announced its intention to provide
Artifact was founded in early 2023 by former Meta (formerly Facebook) executives Kevin Systrom and Mike Krieger after Meta acquired Instagram in 2012. Systrom and Krieger's departure from Meta in late 2018 was reportedly due to conflict with Meta CEO Mark Zuckerberg. Different visions of Instagram's trajectory.
Also read: Taiwan earthquake causes TSMC to suspend operations, highlighting vulnerabilities in global chip supply
At the end of 2018, the two left the Facebook-owned company, a move later reported by some media outlets to have been caused by Meta's strained relationship with CEO Mark Zuckerberg and their differing visions for Instagram.
Systrom and Krieger will provide advisory support to Yahoo during the transition period, the company announced in a statement.
