Yahoo is buying Instagram co-founders' AI-powered news startup Artifact TechCrunch

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Yahoo is buying Artifact, an AI-powered news app from Instagram co-founders Kevin Systrom and Mike Krieger, the company announced on Tuesday. Financial terms of the deal were not disclosed. Artifact will no longer operate as a standalone app, and its proprietary AI-based personalization technology will be integrated across Yahoo, including the Yahoo News app, in the coming months. Yahoo is the parent company of TechCrunch.

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

The announcement comes months after Artifact said it was shutting down operations because the market opportunity wasn't big enough to warrant continued investment. Although Artifact started out as a simple news app, the end result looked like a Twitter replacement. There is already a lot of competition in that space with many competitors including Meta Threads.

Artifact's technology surfaces content that users want to see and adapts to their interests over time. As a result, users receive a personalized feed of the news they want to read. The app also has several AI tools to summarize news, rewrite clickbait headlines and deliver the best content. Yahoo says bringing these capabilities into its portfolio will “accelerate the opportunity to connect consumers with richer content experiences and personalized personalization.”

“Artifact has become a beloved product and we are excited to be able to advance that technology and further our mission to become a trusted guide to digital information and the best curator that connects people to the content that matters most,” he said. Cat Downs Mulder, SVP and general manager of Yahoo News, in a press release.

Systrom said in a press release that Artifact's technology has the potential to benefit millions of people, and “Yahoo brings scale to the product to help us achieve what we envision, while connecting people to trusted sources of news and information is as critical as ever.”



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