Yahoo has announced its acquisition of Artifact, the AI-powered news app developed by Instagram’s co-founders Kevin Systrom and Mike Krieger. No information about the financial terms of the deal was made public. Artifact’s operations will be integrated into Yahoo, including the Yahoo News app in the coming months, utilizing its AI-powered personalization technology. Yahoo is the parent company of Eltrys.
Systrom and Krieger have agreed to provide guidance to Yahoo during this transition.
The announcement arrives a few months after Artifact’s decision to wind down operations due to the insufficient market opportunity that didn’t justify further investment. Artifact began as a basic news app, but it ultimately transformed into a viable alternative to Twitter. There is already a significant amount of competition in that industry, with several challengers, such as Meta’s Threads. 
Artifact’s technology is designed to surface content that users want to see and continually adapts to their interests. Users are provided with a personalized feed of news stories that cater to their interests. The app also featured a range of AI tools that could efficiently summarize news articles, rephrase catchy headlines, and curate the most valuable content. Yahoo believes that incorporating these capabilities into its portfolio will enhance the ability to connect users with more immersive content experiences and personalized recommendations.
“Artifact has gained a strong following and we are excited to expand its capabilities, advancing our goal of becoming a reliable source of digital information and the top curator that connects individuals to the content that is most relevant to them,” stated Kat Downs Mulder, Senior Vice President and General Manager of Yahoo News, in an official statement.
Systrom expressed in the press release that Artifact’s technology has the potential to positively impact a large number of individuals. He also highlighted that Yahoo’s extensive reach can assist in realizing the product’s full potential, while emphasizing the importance of connecting people to reliable news and information.
