Just when we thought Yahoo’s acqusition spree was coming to an end, the company announced that it has agreed to acquire a popular social shopping service known as Polyvore. The fashion-discovery website was actually founded by a few former Yahoo employees back in 2007 and allows users to browse and purchase various clothes and cosmetics. While the price of the acquisition wasn’t revealed, the fact that Polyvore has already raised $22 million in funding, it’s safe to the deal probably cost Yahoo a pretty penny.
Yahoo!, Inc. and Polyvore, Inc. announced today that they have reached a definitive agreement for Yahoo to acquire Polyvore, a leading social shopping site. 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.