As we all know that Yahoo is one of the most influential web portal across the globe and it seems the company wants to expand it even further as the company agreed to buy Polyvore, a community-based social commerce website.
Yahoo, which didn’t disclose acquisition’s financial terms said Polyvore will help them in providing offerings for both consumers as well as advertisers.
Polyvore’s Co-Founder Jess Lee commended the deal by stating, “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,”. Polyvore will start operating under the supervision of Yahoo team.
On this acquisition, “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.
Polyvore is a shopping site where you can give and get styling ideas from the world’s largest style community. It is Venture backed and has offices in Mountain View, San Francisco and New York.
The team of Polyvore 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.
Sources: Business Wire