Yahoo announced it would acquire social shopping site Polyvore to help build Yahoo's digital presence in fashion and e-commerce—creating a reach that should drive more shoppers to retailers and grow Yahoo's mobile presence.
Polyvore boasts an active community of more than 20 million monthly, unique visitors, according to Wired. Users create personalized looks with the products made available on the website. These "look-books" can then be shared and searched, and items can be sourced back to a retail site for purchase. Polyvore has existing relationships with more than 350 retailers.
Yahoo plans to leverage its scale to drive traffic to Polyvore (and retailers) with native shopping ads, while Polyvore stands to help Yahoo boost its mobile and social presence, Wired reported. Social media is increasingly leading to e-commerce growth.
"Our core mission of empowering people to feel good about their style will remain the same, but with Yahoo's help we'll be able to make Polyvore even bigger and better for our user community," said Jess Lee, co-founder and CEO, Polyvore.
The social shopping site is expected to be a integrated with Yahoo Style and Yahoo Beauty. According to a company statement, "Polyvore's strong media experience, where community-powered content is curated and actionable for shoppers, will enhance the full portfolio of Yahoo's digital magazines and verticals."
"Polyvore has built an excellent team, a category leading product, and a strong business based on a highly engaged community," said Simon Khalaf, Yahoo's senior VP of publisher products. "The combination of Yahoo's industry-leading digital content with Polyvore's expertise in community and commerce has outstanding potential. We are thrilled to have the Polyvore team join us."
The acquisition serves to further legitimize the marketplace model where third-party sellers create a kind of mass market bazaar of offerings. It's a format with legs, reports Wired, pointing to Amazon's most recent earnings report which revealed that 45 percent of units sold in the second quarter were attributed to third-party merchants.
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