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TechCrunch Minute: Yahoo acquires Artifact news app from Instagram co-founder

Yesterday, the news that Yahoo acquired Artifact shocked the technology world. Artifact is an interesting app that uses artificial intelligence to help users find and consume more, more relevant news. It had some loyal fans, but never reached the scale that made it an attractive long-term project. Therefore, the founders of Instagram who created the service decided to cancel the service.

Then TechCrunch’s parent company Yahoo decided to acquire its technology. The app itself hasn’t been around for too long, but the deal is still a callback to the old days, when Yahoo was known for acquiring smaller, mobile-focused companies.

Whether you’re an Artifact user or not (I was for a while), Yahoo still feels the acquisition is important under its current ownership structure. After all, Artifact isn’t the only startup on the market today that might be looking for a new home.

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