American multinational technology major Yahoo announced on Tuesday it has acquired Artifact, the AI-powered news platform created by Instagram co-founders Kevin Systrom and Mike Krieger. While Artifact will cease operating as a standalone app, Yahoo plans to integrate its personalization technology across its news offerings, including the Yahoo News app, in the coming months.
The web service provider closed the acquisition on March 29, 2024. During the transition, Artifact’s Kevin Systrom and Mike Krieger will work with Yahoo in an advisory capacity.
“Artifact has become a beloved product and we’re thrilled to be able to continue to grow that technology and further our mission of becoming the trusted guide to digital information and the best curator connecting people to the content that matters most to them,” said Kat Downs Mulder, SVP and General Manager of Yahoo News.
This acquisition follows Artifact’s announcement in January 2024 of winding down operations due to a limited market opportunity. Despite its impressive AI-driven features like personalized news feeds and clickbait-fighting tools, the startup struggled to gain a significant user base.
For Yahoo, the acquisition presents a strategic opportunity to bolster its news offerings in a competitive landscape dominated by tech giants like Google and Meta. Yahoo aims to leverage the startup’s AI-powered recommendation engine to deliver a more personalized news experience to its vast audience, further solidifying its position as a trusted source of information.
While Artifact may not have achieved its full potential as an independent app, its underlying technology is set to power a more personalized news experience for millions of Yahoo users. “AI has allowed us to give users a better experience discovering great content they care about. Yahoo recognizes that opportunity, and we could not be more excited to see what we’ve built live on through Yahoo News.” said Kevin Systrom, Artifact’s chief executive officer and co-founder.
