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Yahoo acquires Instagram cofounders' AI news platform Artifact

Economic Times

Economic Times · 1y ago

Yahoo acquires Instagram cofounders' AI news platform Artifact

Yahoo announced the acquisition of Artifact, an AI-driven news platform founded by Instagram co-founders. The technology will be integrated into Yahoo's news and other sites. This acquisition reflects challenges faced by media start-ups in generating revenue, with Big Tech companies like Alphabet and Meta Platforms dominating advertising sales.

Related News

Yahoo acquires Instagram co-founders' AI news platform Artifact

Reuters · 1y ago

Yahoo acquires Instagram co-founders' AI news platform Artifact

Yahoo has acquired Artifact, an AI-driven news platform created by the co-founders of Instagram. The technology will be integrated into Yahoo's web services to enhance its news and content delivery. Artifact had previously announced it would wind down operations due to a lack of market opportunity. Yahoo, which is owned by Apollo Global Management, also owns TechCrunch, Engadget, and Yahoo Finance. The financial details of the acquisition were not disclosed. The co-founders of Artifact will serve in an advisory role during the transition.

Instagram co-founders’ news aggregation startup Artifact to shut down

TechCrunch · 1y ago

Instagram co-founders’ news aggregation startup Artifact to shut down

Instagram co-founders' news aggregation startup, Artifact, is shutting down, citing a market opportunity not large enough to justify continued investment. Initially a news reading app, Artifact evolved into a curation and news discovery platform, incorporating AI tools for news summarization. However, these changes may have diluted the app's original value. Instagram and Artifact co-founder Kevin Systrom acknowledged the tough decision, emphasizing the importance of recognizing market realities early. Users will have time to transition as features are gradually shut down, with core news capabilities operational until the end of February.

Instagram co-founders' AI-powered news app Artifact may not be shutting down after all

TechCrunch · 1y ago

Instagram co-founders' AI-powered news app Artifact may not be shutting down after all

Artifact, the news discovery app created by Instagram co-founders Kevin Systrom and Mike Krieger, was set to shut down in February 2024 due to a lack of market opportunity. However, it seems that Systrom and Krieger have decided to keep the app running for the time being, as it requires less resources to maintain than anticipated. While the future of Artifact is uncertain, the co-founders are exploring all possibilities to keep the app alive, including potential exit deals. Despite the removal of its social features, the app still offers personalized news reading and AI-based summarization.

Yahoo News unveils AI-powered app overhaul and personalized news: Details

Livemint

Livemint · 1y ago

Yahoo News unveils AI-powered app overhaul and personalized news: Details

Yahoo has released an updated version of its Yahoo News app, integrating advanced artificial intelligence features to enhance user experience. The revamped app offers a customizable feed based on selected topics and preferred publishers. It includes a 'Key Takeaways' tool for summarized news articles, a 'Top Stories' section for trending topics, and social sharing tools. Users can also curate their news feed by blocking specific keywords. Yahoo plans to introduce gamification elements to encourage regular engagement. The updated app is available for Android and iOS devices in select regions.

Anthropic hires Instagram co-founder as head of product

TechCrunch · 1y ago

Anthropic hires Instagram co-founder as head of product

Mike Krieger, the co-founder of Instagram and Artifact, has been appointed as the first Chief Product Officer of AI company Anthropic. In his new role, Krieger will oversee product engineering, management, and design to expand Anthropic's suite of AI apps and bring its generative AI technology, Claude, to a wider audience. Krieger's experience in developing intuitive products will be instrumental in creating user-friendly interactions with Claude. Anthropic aims to leverage Krieger's expertise to aggressively pursue the consumer market and capitalize on the potential of AI to positively impact the world.

These dangerous scammers don’t even bother to hide their crimes

Arstechnica

Arstechnica · 1y ago

These dangerous scammers don’t even bother to hide their crimes

The Yahoo Boys, a collective of scammers from West Africa, are openly operating on various social media platforms, including Facebook, Instagram, TikTok, and YouTube, while sharing fraudulent activities and methods. They openly distribute scripts and advertise fake social media accounts, including those used for blackmail and sextortion scams. The scammers also utilize AI to create fake nude images and real-time deepfake video calls. While some accounts have been removed, many remain active on social media platforms, allowing the scammers to conduct their activities with minimal consequences.

Good Glamm founder Darpan Sanghvi launches startup acceleration platform CoFounder Circle - The Economic Times

Economic Times

Economic Times · 1m ago

Good Glamm founder Darpan Sanghvi launches startup acceleration platform CoFounder Circle - The Economic Times

Darpan Sanghvi, founder of Good Glamm Group, launched CoFounder Circle, an AI-led platform supporting startups and MSMEs. The platform offers access to cofounders, team members, investors, mentors, and AI tools. Nearly half of the company's equity is allocated to its community, including employees and ecosystem partners. This initiative follows Good Glamm's restructuring and sale after financial struggles. Sanghvi previously committed 25% of future income to settle Good Glamm's employee payments. Entrepreneurs can join the CoFounder Circle waitlist for early access.

Coworking space provider BHIVE acquires Praemenio for tech boost

Inc42 · 1y ago

Coworking space provider BHIVE acquires Praemenio for tech boost

Bengaluru-based coworking space provider BHIVE has acquihired product-engineering firm Praemenio to enhance its support for the growing coworking and fintech businesses. The deal, which involved a cash and equity structure, will see BHIVE absorb a 10-member team along with the cofounders of Praemenio. This move aims to streamline the management of BHIVE's coworking spaces and strengthen its fintech arm, improving financial management, lead generation, and decision-making processes. The terms of the deal were not disclosed.

Collective Artists Network acquires flash-fiction platform Terribly Tiny Tales

Livemint

Livemint · 1y ago

Collective Artists Network acquires flash-fiction platform Terribly Tiny Tales

Creator marketplace and talent management firm, Collective Artists Network, has acquired storytelling platform Terribly Tiny Tales in a move to expand its presence as a new media company. Terribly Tiny Tales, founded in 2013, has a community of over five million creators and hosts content on platforms such as Instagram and YouTube. With a weekly engagement of 25 million people, the platform offers valuable opportunities for brands to share their stories. This acquisition aligns with Collective Artists Network's strategy to support storytelling and establish itself as a leading new media company.

Exclusive: IPO-Bound InMobi Bags INR 32 Cr From Cofounders

Inc42 · 3m ago

Exclusive: IPO-Bound InMobi Bags INR 32 Cr From Cofounders

InMobi, an adtech unicorn, raised INR 32 Cr ($3.7 Mn) from its cofounders and Vatera Pte. Ltd. The funding will support its working capital needs. InMobi plans to file its IPO in the second half of 2025 and is considering a $500 Mn capital raise to buy back investor stakes prior to the public listing. Additionally, the company plans significant AI investments and has outlined IPO plans for its Glance platform.

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