Yahoo will add Polyvore in a shopping-advertising push
07.08.2015 364 views
Yahoo Inc. is buying shopping-service Polyvore Inc., seeking to improve its online fashion content and boost shopping-related advertising.
Polyvore, which combines social and e-commerce tools for apparel and accessories, will initially be integrated into Yahoo’s magazines that focus on beauty and style, according to Simon Khalaf, senior vice president at Yahoo. Terms of the deal, subject to customary closing conditions, weren’t disclosed in a statement Friday by the companies.
“This is a good building block for us,” Khalaf said in an interview. “We feel strongly about the Polyvore community and its success.”
CEO Officer Marissa Mayer is pushing to add more news, entertainment and shopping information to the web portal in order to draw a bigger audience and sell advertising. Polyvore lets users put together themed collections of items, like those seen in fashion magazines. People can browse through the collections and then buy the items.
Polyvore will add more than 350 retailers to Yahoo’s advertising platform, the companies said. Polyvore’s backers include Goldman Sachs, DAG Ventures and Benchmark Capital. The company had raised $22 million, according to Jess Lee, co-founder of Polyvore. “On the advertising side, we’ve built a pretty successful business,” Lee said in an interview. “Overall, I think this accelerates Yahoo’s growth strategy.”
Source: Internet Retailer