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Yahoo acquires AI news platform owned by Instagram founders

Yahoo acquires AI news platform owned by Instagram founders
April 02
18:38 2024

Yahoo, a web service provider and search engine firm, has announced the acquisition of Artifact to improve its content provision.

Artifact is an artificial intelligence (AI) driven news aggregation and discovery platform that was created by Instagram cofounders, Kevin Systrom and Mike Krieger.

In a statement on Tuesday, Yahoo said Artifact will no longer operate as a standalone app.

The company, however, said the platform’s proprietary AI-powered personalisation technology and other features will be integrated across Yahoo, including the Yahoo News app, in the months to come. 

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“The technology Artifact has created will be even more impactful with the scale of the Yahoo News network, ranked the #1 news and information property in the US in 2023,” Yahoo said.

“Artifact’s mission was focused on delivering the most relevant stories to users through AI, utilizing proprietary technology to provide curated news and content experiences. 

“As a trusted guide to the internet, Yahoo helps people achieve their goals online, including connecting with high-quality content they care about.

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“This investment advances Yahoo’s commitment to bringing trusted news and information to hundreds of millions of users globally, and accelerates our vision to offer a more personalized experience for discovering news and information across platforms.”

Commenting on the development, Kat Downs Mulder, senior vice-president and general manager of Yahoo News, said the company was one of the first to combine human and algorithmic curation of news. 

Mulder said since then, the landscape of machine learning and personalisation has changed dramatically and Artifact has innovated with best-in-class technology to meet the moment.

“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,” she said.

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On his part, Systrom, chief executive officer (CEO) of Artifact, said he believes the acquisition has the opportunity to benefit millions of people. 

“Yahoo brings the scale to help the product achieve what we envisioned while upholding the belief that connecting people to the trusted sources of news and information is as critical as ever,” he said.

“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.”

According to the statement, Yahoo’s acquisition of Artifact closed on March 29, 2024.

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The company said Artifact’s co-founders will work with Yahoo in an advisory capacity during the transition.

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