Yahoo announced on Tuesday that they are acquiring Artifact, the AI-powered news app created by Instagram’s co-founders Kevin Systrom and Mike Krieger. The financial details of the deal have not been disclosed. Artifact will cease to function as a standalone app, and its AI-based personalization technology will be integrated into Yahoo, including the Yahoo News app in the upcoming months. Yahoo is the parent company of TechCrunch.
Systrom and Krieger will be working with Yahoo in an advisory role during the transition period.
The acquisition follows Artifact’s earlier announcement of winding down operations due to a lack of substantial market opportunity for continued investment. Initially a basic news app, Artifact evolved to resemble a Twitter alternative. The space already has heavy competition with several players, including Meta’s Threads.
Artifact’s technology presents users with tailored content based on their preferences and learns more about their interests over time. This leads to users receiving a personalized news feed with stories they are interested in. The app also offered various AI tools for news summarization, headline rewrites, and content curation. Yahoo believes that integrating these features into its offerings will enhance users’ content experiences and customization.
Kat Downs Mulder, SVP and general manager of Yahoo News, expressed excitement about the acquisition, stating that by continuing to develop Artifact’s technology, they aim to become a trusted guide in digital information and the premier curator connecting individuals to relevant content.
Systrom mentioned in the press release that he sees the potential for Artifact’s technology to benefit millions and that partnering with Yahoo will help the product realize its vision while emphasizing the importance of connecting people to reliable news sources and information.
