In a move aimed at strengthening its artificial intelligence capabilities, Yahoo has announced the acquisition of a innovative news aggregation app Artifact developed by the co-founders of Instagram. The undisclosed deal marks Yahoo’s latest investment in advanced technologies to enhance its media and content offerings for users.
The app in question, Artifact, was launched in late 2022 by Kevin Systrom and Mike Krieger, the co-founders who previously sold Instagram to Facebook (now Meta) for $1 billion in 2012. Artifact uses a unique AI-powered algorithm to curate a personalized feed of news articles, blog posts, and other written content based on each user’s interests and reading habits.
“Artifact has built an impressive technology that delivers a highly personalized news experience, and we’re thrilled to welcome their team to Yahoo,” said Jim Lanzone, CEO of Yahoo. “This acquisition aligns perfectly with our vision of using advanced AI to create premium content experiences for our users.”
The Artifact app, available on both iOS and Android, has quickly gained a devoted following among tech-savvy news junkies since its launch. Its key differentiator is the use of machine learning to continuously adapt each user’s feed, learning from the types of content they engage with most. This allows Artifact to surface relevant articles from a wide range of reputable sources, going beyond the typical social media echo chamber.
Under the terms of the acquisition, Systrom, Krieger, and the entire Artifact team will be integrated into Yahoo’s growing AI and engineering divisions. The app will continue to operate as a standalone product, though Yahoo plans to integrate its core technology into various Yahoo properties over time.
The Artifact deal comes as Yahoo, now owned by private equity firm Apollo Global Management, has placed a renewed emphasis on innovation and next-generation technologies.
Indeed, Yahoo has made a series of strategic investments and acquisitions in the AI space over the past 18 months. This includes the 2022 purchase of DataScience.com, a cloud-based data science and machine learning platform, as well as the creation of a new advanced AI research division within the company.
For Yahoo, the Artifact acquisition represents a strategic opportunity to leapfrog competitors and solidify its position as an innovative force in the converging worlds of AI and digital media. By integrating Artifact’s personalization technology across its news, entertainment, and commerce offerings, the company hopes to deliver a more immersive and compelling user experience.
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“This is about more than just another app or feature, it’s about reshaping the future of how people discover and engage with content online,” said Lanzone.
Of course, the success of Yahoo’s AI-powered media ambitions will ultimately come down to execution. The company will need to seamlessly integrate Artifact’s technology, retain key talent, and continually innovate to stay ahead of fast-moving market trends.
But suppose the early promise of Artifact is any indication. In that case, Yahoo may be poised to re-emerge as a dynamic and influential player in the digital media landscape, powered by the transformative potential of artificial intelligence.
