The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
SUNNYVALE, United States — Yahoo! Inc. is paying about $230 million for shopping service Polyvore Inc., people with knowledge of the matter said, as the Internet portal seeks new ways to draw in users and advertisers.
The deal, announced last week, includes about $40 million in retention payments, according to the people, who asked not to be identified because the information hasn’t been disclosed. Polyvore, which lets people put together collections of fashion goods on the Web, has been slightly profitable to break-even, the people said.
Marissa Mayer, Yahoo’s chief executive officer, has been seeking new ways to expand the company’s community of users and create marketing tools. Polyvore will be integrated into digital magazines that focus on beauty and style — and will provide advertising relationships with more than 350 retailers, Yahoo said.
Rebecca Neufeld, a spokeswoman for Sunnyvale, California-based Yahoo, declined to comment on the purchase price.
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The acquisition comes after Yahoo spent more than $900 million on acquisitions last year, including companies such as mobile-service Flurry and video-ad startup BrightRoll.
Polyvore lets users put together themed collections of items, like those seen in fashion magazines. People can browse through the collections and then buy the items. Backers include Goldman Sachs, DAG Ventures and Benchmark. The startup had raised $22 million before being acquired by Yahoo, according to Jess Lee, Polyvore’s co-founder.
By Brian Womack; editors: Jillian Ward, Reed Stevenson.
The app, owned by TikTok parent company ByteDance, has been promising to help emerging US labels get started selling in China at the same time that TikTok stares down a ban by the US for its ties to China.
Zero10 offers digital solutions through AR mirrors, leveraged in-store and in window displays, to brands like Tommy Hilfiger and Coach. Co-founder and CEO George Yashin discusses the latest advancements in AR and how fashion companies can leverage the technology to boost consumer experiences via retail touchpoints and brand experiences.
Four years ago, when the Trump administration threatened to ban TikTok in the US, its Chinese parent company ByteDance Ltd. worked out a preliminary deal to sell the short video app’s business. Not this time.
Brands are using them for design tasks, in their marketing, on their e-commerce sites and in augmented-reality experiences such as virtual try-on, with more applications still emerging.