Yahoo Acquires Artifact, the AI News Platform from Instagram's Co-Founders
Yahoo has officially acquired Artifact, the AI-driven news aggregation and discovery platform created by Instagram co-founders Kevin Systrom and Mike Krieger. Announced on April 2, 2024, the acquisition underscores Yahoo's commitment to enhancing its news services with advanced AI technology, following the deal's closure on March 29, 2024.
Artifact gained recognition for its innovative AI-based personalization technology. While the service will cease operations as a standalone app – a process Artifact had already initiated earlier in the year citing market opportunity challenges – its underlying technology will be integrated into Yahoo platforms, including the Yahoo News app, over the coming months. Artifact's capabilities enable the curation of a personalized news feed based on user interests, utilizing artificial intelligence to highlight the most relevant stories.
With this strategic move, Yahoo aims to leverage Artifact's innovative approach to news aggregation to deliver a more personalized and engaging user experience. The integration of Artifact's technology is expected to enrich Yahoo's content offerings and improve the overall user experience across its platforms. Financial terms of the acquisition were not disclosed.
As part of the transition, Artifact co-founders Kevin Systrom (CEO) and Mike Krieger (CTO) will serve in advisory roles at Yahoo. This collaboration highlights Yahoo's strategy to incorporate cutting-edge technology into its services and strengthen its position in the digital media and AI sectors.
Launched in early 2023, Artifact's goal was to provide a personalized news experience, aligning with Yahoo's vision of connecting people with high-quality content that matters most to them. By acquiring Artifact, Yahoo aims to further develop its capabilities in AI-powered content curation and distribution, advancing its mission to be a trusted guide to the internet.
This acquisition marks a significant step for Yahoo in applying AI technology to improve its news services. It reflects the company's ongoing efforts to innovate and provide more personalized, relevant content experiences to its vast user base.