Yahoo Acquires AI News Platform Artifact – PYMNTS.com

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Yahoo has acquired Artifact, an AI-driven personalized news platform founded by Kevin Systrom and Mike Krieger, the co-founders of Instagram.

According to Reuters, this move aims to strengthen Yahoo’s standing in the digital and AI sectors. Artifact offers users customized news feeds based on their reading habits through sophisticated AI algorithms, a departure from traditional news delivery methods.

Although the financial terms of the deal were not disclosed, Yahoo views the purchase as a key investment in AI for content curation and dissemination. Yahoo’s CEO, Jim Lanzone, stated that the acquisition would catalyze Yahoo’s AI-content endeavors and overall growth.

 Artifact is expected to enhance Yahoo’s content services, reflecting Yahoo’s deep dive into AI. The Artifact platform had quickly become popular for its personalized news experience. With the acquisition, Systrom, Krieger, and their team will integrate into Yahoo, promising potential advancements in online news and media interaction.

Kevin Systrom and Mike Krieger’s venture into the AI news aggregation market with Artifact had garnered significant attention, with the platform quickly rising in popularity among users seeking a more personalized news experience. Their success with Instagram, which was acquired by Facebook (now Meta) in 2012 for $1 billion, has set high expectations for Artifact’s potential impact under Yahoo’s umbrella.

Yahoo also owns news brands TechCrunch, Engadget and Yahoo Finance.

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