Posted 4/2/2024, 4:51:35 PM
Yahoo Acquires Troubled AI News Startup Artifact Founded by Instagram Co-Creators
- Yahoo acquires AI news platform Artifact, will incorporate its technology into Yahoo's news and other sites
- Artifact was launched in early 2023 by Instagram co-founders Kevin Systrom and Mike Krieger
- Artifact struggled to grow revenue and was winding down operations before the acquisition
- The acquisition signals continued challenges for media startups competing with Big Tech for ad revenue
- Systrom and Krieger will work with Yahoo in an advisory role during the transition
