Yahoo's Acquisition of Artifact Marks a New Chapter in AI-Powered News Delivery

Yahoo's Acquisition of Artifact Marks a New Chapter in AI-Powered News Delivery

By Staff Writer, 04 April 2024

Yahoo has announced its acquisition of Artifact, an AI-powered news app founded by Instagram's Kevin Systrom and Mike Krieger.

The financial details of the deal remain undisclosed.

Following the acquisition, Artifact will cease to exist as an independent app, with its AI technology set to be integrated into Yahoo's platforms, including the Yahoo News app, in the coming months.

Notably, Yahoo is the parent company of TechCrunch.

During the transition, Systrom and Krieger will provide advisory support to Yahoo.

This move follows Artifact's recent decision to wind down operations due to insufficient market opportunity.

Originally conceived as a news app, Artifact evolved into a platform resembling a Twitter alternative, facing stiff competition from the likes of Meta's Threads.

Artifact's technology utilizes AI to tailor content to users' preferences, offering personalized news feeds and employing various tools to summarize articles and enhance content relevance.

Yahoo views the integration of these capabilities as an opportunity to enhance user experiences and provide tailored content.

Kat Downs Mulder, SVP and general manager of Yahoo News, expressed excitement about the acquisition, stating, "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."

Source: Aisha Malik / TechCrunch

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