Key Points
(Reuters) Yahoo said on Tuesday it had acquired Instagram co-founders AI-driven news platform, Artifact, and will incorporate its technology across the U.S. web services providers news and other sites...
The deal signals continued pain for media start-ups struggling to grow revenue at a time when Big Tech giants Alphabet and Meta Platforms attract the bulk of advertising sales...
In January, Artifact said in a blogpost it would wind down operations of its app as the market opportunity isnt big enough to warrant continued investment in this way...
Yahoo, which also owns news brands TechCrunch, Engadget and Yahoo Finance, said Artifacts AI-powered recommendation engine and other features will help scale its news operations and deliver personalized content to audience...
The duo had left the Facebook owner in late 2018, which some media reports later described as due to their strained relationship with Meta boss Mark Zuckerberg and differences in their visions for Instagram...
