More importantly, Polyvore will help boost Yahoo’s growth strategy in mobile, video and social-areas in which the social commerce site has performed well and where Yahoo has historcally had trouble.
San Francisco: Yahoo is buying style-tip specialist Polyvore in its latest attempt to become a more fashionable place to advertise. The financial details of the acquisition have not been disclosed yet.
Yahoo might be taking some jabs and jibes for its “MaVeNS” digital advertising strategy (or at least for the quirky acronym), but the whole initiative could be getting a serious booster shot.
“Polyvore will strengthen Yahoo’s digital magazines and verticals through the incorporation of community and commerce”, Yahoo said.
Polyvore’s co-founder and CEO Jess Lee was earlier part of Google Inc’s (GOOGL.O) associate manager program, which Marissa Mayer headed before joining Yahoo as CEO.
For those who are unfamiliar with Polyvore, basically it’s a website where users can put together various sets of clothing and accessories that they think go well together, which in a way could be described as the Pinterest for fashion.
Polyvore will initially be integrated into Yahoo’s magazines that focus on beauty and style, according to Simon Khalaf, senior vice president at Yahoo.
Bloomberg adds that Marissa Mayer, CEO of Yahoo, has been pushing for the company to add more news, entertainment and shopping information to the Web portal.
“This is exactly what we see in Polyvore”.
“Going forward, Polyvore will still be the same Polyvore that you love, but we’ll have more resources to make it even bigger and better”, Lee said in a note to Polyvore’s users. She also said that in addition to using this integration with Yahoo to expand Polyvore, it would also give them additional revenue to monetize.
Polyvore technology will be used to power shopping ads aimed at driving business to retailers, according to Yahoo. “
By partnering with Yahoo we can roll out our ad platform across the Yahoo network by integrating with Yahoo Gemini”,
Lee said.
