Yahoo acquired Artifact, an AI-driven news aggregation platform developed by Instagram co-founder Kevin Systrom and mike kriegerthe company announced on Tuesday. Financial terms of the deal were not disclosed.
Krieger and System will work with Yahoo in an “advisory capacity” during the transition period, but will not join the company permanently. Yahoo is targeting Artifact's technology, not its staff.
According to a press release, the platform will no longer operate as a standalone product, but its “proprietary AI-powered personalization technology and other features will be integrated across Yahoo, including the Yahoo News app, in the coming months.” ”. The company's move to AI integration across its products.
The acquisition comes just months after Krieger and Systrom announced the closure of the platform, writing: We will continue to invest in this way. ”
“Yahoo was one of the first companies to combine human news curation with algorithmic news curation. Since then, the machine learning and personalization landscape has changed dramatically, and Artifact has stepped up to the plate. Together, we have innovated with best-in-class technology,” Kat Downs Mulder, SVP and general manager of Yahoo News, said in a statement. “Artifact has become a beloved product, and we continue to grow its technology, furthering our mission to be the trusted guide to digital information and the best curator of connecting people to the content that matters most. I’m excited to do it.”
“AI allows us to provide a better experience for our users to find great content they are interested in. Yahoo recognizes that opportunity and is building on what we have built through Yahoo News. I couldn't be more excited to see it live,” Systrom said in a statement. “Yahoo brings 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. ”
The acquisition was completed on March 29th.
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