The AI-powered news app Artifact, which was co-founded by Mike Krieger and Kevin Systrom of Instagram, is going to be acquired by Yahoo, the firm said on Tuesday. The deal’s financial details were kept a secret. In the upcoming months, Artifact’s AI-powered customization technology will be integrated throughout Yahoo, including the Yahoo News app, and it will no longer function as a stand-alone app. TechCrunch’s parent company is Yahoo.
Throughout this shift, Systrom and Krieger will serve Yahoo in a “consultative capacity.”
The news was made a few months after Artifact declared it would be closing its doors since there wasn’t enough market potential to justify further expenditure. Despite having begun as a straightforward news app, Artifact ended up looking more like a Twitter substitute. That market is already very competitive, with several competitors, such as Meta’s Threads.
The technology used by Artifact presents content that people are interested in seeing and gradually adapts to their preferences. Users consequently get a customized feed of news articles that they desire to read. Additionally, the app has a number of AI capabilities for summarizing news, rewriting attention-grabbing headlines, and surfacing the finest content. As per Yahoo, the incorporation of these technologies into its portfolio “fast-tracks the chance to provide users with even more engaging content experiences and customized recommendations.”
Kat Downs Mulder, SVP and general manager of Yahoo News, stated in a press release that “Artifact has become a beloved product and we’re thrilled to be able to continue growing that technology and further our mission of becoming the trusted guide to digital information and the best curator connecting people to the content that matters most to them.”
According to Systrom, who also stated in the press release that “Yahoo brings the scale to help the product achieve what we envisioned while upholding the belief that connecting people to the trusted sources of news and information is as critical as ever,” Artifact’s technology has the potential to help millions of people.
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