BUSINESS NEWS: YAHOO ACQUIRES POLYVORE
California-based online social commerce website, Polyvore, has shifted under the Yahoo umbrella. Yahoo announces its acquisition of the company this Friday.
Established in 2007, CEO Jess Lee jumps from a product manager position at Google to creating Polyvore: a community-like network that allows its users to create fashion collages that short link items straight to retailers. With head honcho stylists, like Jayne Min (stopitrightnow.com) or Vanessa Hong (thehautepursuit.com), who have large followings whilst creating glam looks reducing infinite scroll time – Polyvore made shopping with a second opinion much easier.
It is, however, noted that Polyvore’s momentum has slowed in the recent years leading to a sale that TechCrunch reports ranging from $20 to $ 60 million. Yahoo CEO, Marissa Mayer, is known for her amassing halting companies (i.e. Tumblr); Fashionista states that Polyvore will continue to operate independently but perhaps aid in accelerating Yahoo Style, which launched last fall.
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