Yahoo! Inc. announced Friday that it has reached an agreement to acquire Polyvore, a leading social shopping site, in hopes that it will help grow its consumer and advertiser offerings. Polyvore allows its users to put together sets of clothing, accessories, and lifestyle goods in collage-form, and to give and get styling ideas from other users. The perk for retailers is that Polyvore links to e-commerce sites for an easy checkout. Through the acquisition, Yahoo now has access to new native ad formats and strong advertising relationships with more than 350 retailers.
“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.”
“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 Polyvore co-founder and CEO Jess Lee, who will report directly to Khalaf. “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 shopping site’s products and services will continue to operate, and the team will join the Yahoo offices in Sunnyvale, San Francisco, and New York. The virtual platform was first developed in 2012 to give emerging talent a boost by promoting them on the site, and quickly acquired 20 million monthly visitors.