Once seen as a time-suck, social networks continue to stake their claims on consumers’ spending habits.
A statement announcing the acquisition said Polyvore will strengthen Yahoo’s digital magazines and verticals through the incorporation of community and commerce, and the two will power native shopping ads that drive traffic and sales to retailers.
“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, who went on to say in a blog post on the site, “We’ll continue to add cool new product features and roll out new perks for top members. We’ve accomplished a lot on our own, but together with Yahoo we can take Polyvore to its fullest potential.”
Founded in 2007 by three former Yahoo engineers, Polyvore is known for its user-generated, shoppable collages and its revenue comes from 350 brands and retailers that sponsor collections or items on the site—a stable of advertisers that will now be integrated into Yahoo Gemini, the company’s marketplace for mobile search and native advertising.
“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 senior vice president of publisher products. “The combination of Yahoo’s industry-leading digital content with Polyvore’s expertise in community and commerce has outstanding potential.”
Polyvore’s products and services will continue to operate after the transaction closes, and the company’s team will join Yahoo’s offices in New York, San Francisco and Sunnyvale, California.