Thursday, August 6, 2015

Yahoo To Acquire Social Shopping Site Polyvore

Yahoo (NASDAQ: YHOO) last week signed a definitive agreement to acquire leading social shopping site PolyvoreFinancial terms of the deal were not disclosed. 

The deal will further enhance Yahoo's consumer and advertiser offerings, as well as strengthen Yahoo's digital magazines and verticals. More importantly, Polyvore will accelerate Yahoo's growth strategy in mobile, video, native and social, an areas in which Yahoo has not performed well. 

Simon Khalaf, senior vice president, Yahoo Publisher Products, said in a statement that: “Polyvore has built an excellent team, a category leading product, and a strong business based on a highly engaged community”, and added that: “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.” 

Polyvore is a leading social shopping site, it provides brands and retailers a way to connect with influential consumers and drive sales through real-time advertising solutions. 
Under the deal, Polyvore products and services will continue to operate. Its team will join Yahoo offices in Sunnyvale, San Francisco and New york. Polyvore Co-founder and CEO Jess Lee will report directly to Yahoo Publisher Products SVP Simon Khalaf.

About Yahoo
Based in Sunnyvale, California, Yahoo is an American multinational technology company. Globally known for its web portal and search engine, Yahoo is the highest-read news and media website with over 7 billion readers a month. It operates a portal that provides latest news and gives users access to other Yahoo services namely: Yahoo Mail, Yahoo Maps, Yahoo Finance and etc. 

Image Credit: Wikimedia

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