Yahoo to Acquire Polyvore
01 August 2015 - 7:00AM
Business Wire
Yahoo!, Inc. (NASDAQ: YHOO) 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.
“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.”
Following the closing of the acquisition, Polyvore products and
services will continue to operate. With Yahoo’s support and
investment, we expect Polyvore to continue to delight its
community, while introducing Polyvore’s expertise on community,
commerce, and rich native ads across the Yahoo network. The
Polyvore team will join respective Yahoo offices in Sunnyvale, San
Francisco and New York and Polyvore Co-Founder and CEO Jess Lee
will report directly to Simon Khalaf.
The transaction is subject to customary closing conditions.
About Polyvore
Polyvore is a shopping site where you can give and get styling
ideas from the world's largest style community. Polyvore provides
brands and retailers a way to connect with influential consumers
and drive sales through native advertising solutions. Polyvore is
venture-backed and has offices in Mountain View, San Francisco and
New York. For more info, visit www.polyvore.com.
About Yahoo
Yahoo is a guide focused on informing, connecting, and
entertaining our users. By creating highly personalized experiences
for our users, we keep people connected to what matters most to
them, across devices and around the world. In turn, we create value
for advertisers by connecting them with the audiences that build
their businesses. Yahoo is headquartered in Sunnyvale, California,
and has offices located throughout the Americas, Asia Pacific
(APAC) and the Europe, Middle East and Africa (EMEA) regions. For
more information, visit the pressroom (pressroom.yahoo.net) or the
Company’s blog (yahoo.tumblr.com).
This press release contains forward-looking statements that
involve risks and uncertainties concerning Yahoo's proposed
acquisition of Polyvore (including without limitation the
statements contained in the quotations from management in this
press release), as well as Yahoo's strategic and operational plans.
Actual events or results may differ materially from those described
in this press release due to a number of risks and uncertainties.
The potential risks and uncertainties include, among others, the
possibility that the transaction will not close or that the closing
may be delayed; and that the anticipated benefits to Yahoo,
including strengthened relationships with retailers, expanded
product ads, and acceleration of its Mavens growth strategy, as
well as the anticipated benefits to users and advertisers may not
be realized. More information about potential factors that could
affect Yahoo's business and financial results is included under the
captions, "Risk Factors" and "Management's Discussion and Analysis
of Financial Condition and Results of Operations," in the Company's
Annual Report on Form 10-K for the fiscal year ended December 31,
2014 and Quarterly Report on Form 10-Q for the quarter ended March
31, 2015, which are on file with the Securities and Exchange
Commission (“SEC”) and available at the SEC's website at
www.sec.gov.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150731005868/en/
Media Relations Contact:YahooRebecca Neufeld,
408-349-4040rneufeld@yahoo-inc.comorInvestor Relations
Contact:YahooJoon Huh,
408-349-3382investorrelations@yahoo-inc.com
Altaba (NASDAQ:AABA)
Historical Stock Chart
From Aug 2024 to Sep 2024
Altaba (NASDAQ:AABA)
Historical Stock Chart
From Sep 2023 to Sep 2024