Yahoo is acquiring Artifact, the AI news app from Instagram’s co-founders that failed to make it big on its own. The Verge reports: The two sides declined to share the cost of the acquisition, but both made clear Yahoo is acquiring Artifact’s tech rather than its team. Mike Krieger and Kevin Systrom, Artifact’s co-founders, will be “special advisors” for Yahoo but won’t be joining the company. Artifact’s remaining five employees have either gotten other jobs or are planning to take some time off. The acquisition comes a bit more than a year after Artifact’s launch and about three months after Systrom and Krieger announced its death. […]
Artifact, the app, will go away once the acquisition is complete. But Artifact’s underlying tech for categorizing, curating, and personalizing content will soon start to show up on Yahoo News — and eventually on other Yahoo platforms, too. “You’ll see that stuff flowing into our products in the coming months,” says Downs Mulder. It sounds like there’s also a good chance that Yahoo’s apps might get a bit of Artifact’s speed and polish over time, too. Both Systrom and Downs Mulder say the integration will take time, that you can’t just drop an Artifact algorithm into Yahoo News and call it a day. But they see a possibility to get everybody into the future a little faster. Yahoo can develop a personalized content ecosystem, the “TikTok for text” that was so alluring to Artifact users. And Artifact can power a news service of the future.
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