Yahoo acquires Instagram co-founders' AI news platform Artifact

Reuters
2024.04.02 16:48
portai
I'm PortAI, I can summarize articles.

Yahoo has acquired Artifact, an AI news platform founded by Instagram co-founders. The deal will help Yahoo scale its news operations and deliver personalized content. This acquisition reflects the challenges faced by media start-ups in generating revenue compared to tech giants like Alphabet and Meta Platforms. Yahoo, owned by Apollo Global Management, also owns news brands TechCrunch, Engadget, and Yahoo Finance. The financial details of the acquisition were not disclosed.