On Tuesday as Yahoo acquires a cutting-edge AI-powered news aggregation platform Artifact, developed by none other than Instagram’s co-founders, Kevin Systrom and Mike Krieger. While details of the financial aspect remain undisclosed, it’s clear that Yahoo’s focus lies on Artifact’s innovative technology rather than onboarding its creators permanently. During the transition, Systrom and Krieger will lend their expertise to Yahoo in an advisory capacity, underscoring the strategic nature of this acquisition.
As outlined in a recent press release, the platform’s operations will undergo a transformation, transitioning away from its standalone status. Instead, its unique AI-driven personalization technology and other standout features will be seamlessly integrated across various Yahoo products, including the Yahoo News app, in the coming months. This move reflects Yahoo’s commitment to infusing AI capabilities into its entire product range. The acquisition follows closely on the heels of Krieger and Systrom’s announcement regarding the platform’s closure. They expressed gratitude to a dedicated user base while acknowledging the decision to discontinue due to insufficient market prospects.As per report the acquisition closed on March 29.
Artifact made its debut in January of the previous year, garnering attention for its impressive discovery system that consistently surfaced articles tailored to users’ interests. Personally, it provided me with a delightful mix of gaming updates, breaking news, and architecture insights. The app’s goal was to refine its personalized news feed gradually, a mission it accomplished effectively. Additionally, it integrated other AI-powered functionalities, including concise news summaries, enhancing the overall user experience.
Despite efforts to enhance its appeal with social features like profiles and comment voting, Artifact failed to achieve the widespread success enjoyed by Instagram. Despite attempts to prolong its lifespan, Kevin Systrom and Mike Krieger ultimately decided to shut down Artifact in January. However, they continued to sustain its operation independently for a brief period before ultimately deciding to sell it.
Fascinatingly, Yahoo’s recent acquisition of Artifact isn’t their inaugural foray into AI-powered news summarization apps. More than ten years ago, Yahoo acquired Summly, which shared a similar focus. Following the acquisition, Summly was discontinued, akin to Artifact’s fate. However, the advanced technology from both acquisitions found its way into various other Yahoo products, showcasing a consistent strategic approach to innovation and integration.
