The acquisition comes after Artifact announced its shutdown, citing a lack of market opportunity for continued investment. Despite this, Artifact received significant interest from various companies, including Yahoo, who were drawn to the potential of its AI-driven news recommendation technology. The integration of Artifact's technology into Yahoo's platforms will be a gradual process, with the aim of developing a personalized content ecosystem.
Key takeaways:
- Yahoo is acquiring Artifact, a news recommendation tool developed by Instagram's co-founders, Mike Krieger and Kevin Systrom.
- Yahoo is interested in Artifact's technology, not its team. The co-founders will serve as special advisors but won't join the company.
- Artifact's technology will be integrated into Yahoo News, potentially reaching a much larger audience than it could have on its own.
- Despite the shutdown of Artifact, its co-founders remain optimistic about the potential of AI and are considering new ideas for the future.