Web services provider, Yahoo, has announced its acquisition of Artifact, an AI-driven news platform co-founded by the creators of Instagram, as part of its efforts to strengthen its news offerings and incorporate advanced technology across its web services.
In a blog post earlier this year, Artifact announced its decision to slow its app operations, citing a limited market opportunity. Yahoo’s acquisition, however, shows it is still confident in Artifact’s technology and its potential to revolutionise news delivery.
Artifact’s AI-powered recommendation engine and other features will be integrated into Yahoo’s existing news brands, which include TechCrunch, Engadget, and Yahoo Finance. This integration is expected to scale Yahoo’s news operations and improve content personalisation for users.
Artifact was launched in early 2023 by Instagram co-founders Kevin Systrom and Mike Krieger. The duo, who previously worked at Meta Platforms (formerly Facebook) after its acquisition of Instagram in 2012, left the company in late 2018.
As part of the acquisition, Systrom and Krieger will work with Yahoo in an advisory capacity during the transition period. Their expertise and insights are expected to contribute to Yahoo’s efforts to integrate Artifact’s technology effectively.
