Yahoo announced that it has acquired Artifact, a news app launched in 2023 by Kevin Systrom and Mike Krieger, the co-founders of Instagram. The acquisition price was not disclosed.
“Yahoo was one of the first to combine human and algorithmic curation of news. Since then, the landscape of machine learning and personalization has changed dramatically and Artifact has innovated with best-in-class technology to meet the moment,” said Kat Downs Mulder, SVP and General Manager of Yahoo News.
Artifact is a news aggregator that uses artificial intelligence to recommend articles to users based on their interests. With the acquisition, Artifact will no longer function as a standalone app, and its technology will be integrated into Yahoo’s products, including Yahoo News, in the coming months.
Mike Krieger and Kevin Systrom will serve as advisors to Yahoo, but they will not be joining the company.
Early this year, they announced that they would be shutting down the news app after just one year, citing a lack of market opportunity to justify continued investment in the platform.
More details on Yahoo Press page: https://www.yahooinc.com/press/yahoo-announces-the-acquisition-of-artifact-the-news-discovery-platform-created-by-instagram-cofounders-kevin-systrom-and-mike-krieger
