Yahoo is acquiring Instagram co-founder’s AI news startup Artifact

Yahoo announced on Tuesday that it is acquiring artificial intelligence-powered news app Artifact from Instagram co-founders Kevin Systrom and Mike Krieger. Financial terms of the deal were not disclosed. Artifact will no longer run as a standalone app, and its proprietary AI personalization technology will be integrated throughout Yahoo, including the Yahoo News app, in the coming months. Yahoo is TechCrunch’s parent company.

During this transition, Systrom and Krieger will work with Yahoo in an “advisory capacity.”

A few months ago, Artifact said it would cease operations because the market opportunity was “not large enough to warrant continued investment.” Although Artifact started out as a simple news app and ended up looking more like a Twitter alternative, there’s already stiff competition from a number of competitors in the space, including Meta’s Threads.

Artifact’s technology surfaces content users want to see and becomes more relevant to their interests over time. As a result, users receive personalized news stories that they want to read. The app also includes several AI tools to summarize news, rewrite clickbait headlines and present the best content. Yahoo said adding these capabilities to its product portfolio “accelerates the opportunity to connect users with richer content experiences and tailored personalization.”

“Artifact has become a beloved product, and we’re excited to continue to grow this technology and further our mission to be the trusted guide to digital information and the best place to connect people to the content that matters most to them. best curator,” said Kat Downs Mulder, senior vice president and general manager of Yahoo News, in a press release.

Systrom said in the press release that Artifact’s technology has the opportunity to benefit millions of people. “The scale that Yahoo brings helps this product realize our vision while staying true to our belief in connecting people to trusted sources of news and information.” Being connected is as key as ever.”