Yahoo! Inc. is buying shopping-service Polyvore Inc., seeking to improve its online fashion content and boost shopping-related advertising.
The transaction is subject to customary closing conditions, the companies said in a statement Friday.
Chief executive officer Marissa Mayer is pushing to add more news, entertainment and shopping information to the web portal in order to draw a bigger audience and sell advertising. 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. Polyvore will add more than 350 retailers to Yahoo’s advertising platform, the companies said.
“The acquisition will enhance Yahoo’s consumer and advertiser offerings - Polyvore will strengthen Yahoo’s digital magazines and verticals through the incorporation of community and commerce, and together Yahoo and Polyvore will power native shopping ads that drive traffic and sales to retailers,” they said in the statement.
Polyvore’s backers include Goldman Sachs, DAG Ventures and Benchmark Capital.
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