The acquisition that is making rounds in the Silicon Valley is of Polyvore, a community powered social eCommerce company. It has been bought by Yahoo which would be its first step into the fashion world. The financial details of the acquisition have not been disclosed yet.
Yahoo! Inc CEO Marissa Mayer has been quite close to Jess Lee, the founder and CEO of Polyvore and their closeness might have been another push for the acquisition deal. Mayer had recruited Lee for working at Google in the early 2000’s.
Yahoo made its official announcement on Friday, agreeing to purchase the fashion start-up Polyvore in order to assist visitors and power up its cellular and social choices.
Polyvore is basically an 8 year old company that exercises expertise in roping merchants, with customers that are searching for ideas based on clothing, health and beauty products.
The taste making skills and loyal customer following of Polyvore will be tapped by Yahoo in order to sell more advertisements in digital magazines. Polyvore, the e-commerce business was created in the year 2007 and it was called to be a “fashionista’s playground”.
Yahoo was very keen on embracing the native ad technology of Polyvore as it engages ads in an integrated manner. It is done on a platform that makes sure it resembles other content on the website.
“Polyvore is a leading social shopping site that enables its users across the globe to shop their favorite products, discover new inspiration and express their style”.
The last quarterly earnings of Polyvore weren’t too impressive though. Wall Street is alerted as Yahoo has officially filed to materialize the long awaited spinoff from its Alibaba investment.
The details of the acquisition haven’t been disclosed yet. This acquisition will actually mark the homecoming for three of Polyvore’s co-founders, Jianing Hu, Guangwei Yuan and Pasha Sadri.
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