Yahoo will acquire Artifact, an AI-powered news app, from Instagram co-founders Kevin Systrom and Mike Krieger, the company announced Tuesday. Financial terms of the deal were not disclosed. Artifact will no longer operate as a standalone app, and its unique AI-powered personalization technology will be integrated across Yahoo, including the Yahoo News app, in the coming months. Yahoo is the parent company of his TechCrunch.
Systrom and Krieger will work with Yahoo in an “advisory capacity” during this transition period.
The announcement comes several months after Artifact announced it was winding down its operations, saying the market opportunity was not large enough to justify continued investment. Artifact started out as a simple news app, but ended up looking like a Twitter replacement. There is already strong competition in this space from a number of competitors, including Meta's Threads.
Artifact's technology surfaces the content you want to see and becomes more tailored to your interests over time. As a result, users receive a personalized feed of news articles they want to read. The app also included several AI tools to summarize news, rewrite clickbait headlines, and surface the best content. Yahoo says that incorporating these features into its portfolio “accelerates the opportunity to connect users with richer content experiences and customized personalization.”
“Artifact has become a beloved product, and we continue to grow its technology, furthering our mission to be the trusted guide to digital information and the best curator of connecting people to the content that matters most. I’m excited about what we can do.” Yahoo News SVP and General Manager Kat Downs Mulder said in a press release.
Systrom said in a press release that Artifact's technology has an opportunity to benefit millions of people, adding, “Yahoo believes in connecting people to trusted news and information sources. The product gives us the scale to help us achieve what we envisioned while staying true to our beliefs.” It's still important. ”