Internet giant Yahoo!, Inc. and Polyvore, Inc. have reached a definitive agreement for Yahoo to acquire Polyvore, a leading social shopping site, the two sides said in a statement.
The acquisition will enhance Yahoo's consumer and advertiser offerings -- Polyvore will strengthen Yahoo's digital magazines and verticals through the incorporation of community and commerce, and together Yahoo and Polyvore will power native shopping ads that drive traffic and sales to retailers. Broadly, Polyvore will accelerate Yahoo's Mavens growth strategy (mobile, video, native, social) through its strong offerings in social, native, and mobile.
On Polyvore, users put together sets of clothing, accessories, and lifestyle goods that express their love for style and shopping in a compelling, digital, social setting. In addition to natural integrations with Yahoo Style and Yahoo Beauty, Polyvore's strong media experience, where community-powered content is curated and actionable for shoppers, will enhance the full portfolio of Yahoo's digital magazines and verticals. When it comes to advertising, Polyvore's technology will bring a proven native ad model, new compelling native ad formats, and strong advertising relationships with more than 350 retailers to Yahoo's fast-growing native advertising platform, Yahoo Gemini.
“Polyvore has built an excellent team, a category leading product, and a strong business based on a highly engaged community,” said Simon Khalaf, Yahoo's SVP of Publisher Products. “The combination of Yahoo's industry-leading digital content with Polyvore's expertise in community and commerce has outstanding potential. We are thrilled to have the Polyvore team join us.”
“I'm delighted to join Yahoo. Our core mission of empowering people to feel good about their style will remain the same, but with Yahoo's help we'll be able to make Polyvore even bigger and better for our user community,” said Jess Lee, co-founder and CEO, Polyvore. “I'm also excited that we'll be able to deliver more scale to our advertisers by integrating our ad offerings into Yahoo Gemini.”
The transaction is subject to customary closing conditions. (SH)
Fibre2Fashion News Desk – India