SUNNYVALE (dpa-AFX) - Internet giant Yahoo!, Inc. (YHOO) said Friday that it has agreed to buy social shopping site Polyvore, Inc.
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.
On Polyvore, users put together sets of clothing, accessories, and lifestyle goods that express their love for style and shopping in a compelling, digital, social setting.
Polyvore's technology will bring a proven native ad model, new compelling native ad formats, and strong advertising relationships with more than 350 retailers to Yahoo's fast-growing native advertising platform, Yahoo Gemini.
Following the closing of the acquisition, Polyvore products and services will continue to operate. The Polyvore team 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, Yahoo's SVP of Publisher Products.
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