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.
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 next generation of Meta’s and Ray-Ban’s collaborative smart glasses offer better audio and picture quality, as well as live streaming directly to Instagram. But that may not be enough.
The data and technology business has developed proprietary tools that allow analysis of customer engagement, marketing strategies and lifetime value, working with the likes of The Economist, MyTheresa and Diageo. BoF speaks to Good Growth’s CEO and co-founder to learn more.
The sneaker brand has faced challenges in the year since it launched a 3D online space and introduced NFT-linked sneakers, but it sees a long-term opportunity ahead in virtual goods and experiences, including a chance to make them a significant part of its business.
The company, which rolled out its Shop feature to all US users this week, is banking on its powerful algorithm to help it succeed where Instagram and others have failed by delivering a constant stream of products along with its targeted content into users’ feeds.