Polyvore Fashion Website Bought by Yahoo, the Inc (YHOO.O) on Friday said it agreed to buy the fashion start-up website Polyvore in order to help drive traffic and strengthen its mobile and social offerings to the world.
Yahoo, who fails to disclose terms and conditions of the deal, said Polyvore will accelerate its ‘Mavens’ growth strategy.
Polyvore Fashion Website who has been focusing on four areas namely mobile, video, native advertising and social — which it calls Mavens, to drive user engagement and ad sales as it battles intense competition from Google Inc (GOOGL.O) and Facebook Inc (FB.O).
The revenue from Mavens made up about one-third of the company’s total revenue in the quarter ended June 30.
The Mavens portfolios includes BrightRoll, mobile app network Flurry, mobile ad buying platform Yahoo Gemini and popular blogging site Tumblr.
Polyvore fashion company, the brainchild of 3 ex-Yahoo engineers, was started in 2007.
The Polyvore’s co-founder and CEO Jess Lee was earlier part of Google Inc’s (GOOGL.O) associate manager program, which Marissa Mayer headed before joining Yahoo as CEO.
first seen on www.reuters.com