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YAHOO SNAGS SOCIAL COMMERCE SITE POLYVORE

YAHOO has agreed to buy community-powered social commerce website Polyvore. The company says that the acquisition, announced with a press release on Yahoo’s website, is meant to enhance its consumer and advertiser offerings. Yahoo gets to absorb an active community of over 20 million monthly unique visitors, and the purchase of Polyvore also strengthens the company’s commerce strategy.

The two companies will work on native shopping ads to drive traffic and sales to retailers, and more broadly, Polyvore will help boost Yahoo’s growth strategy in mobile and social—areas in which the social commerce site excelled.

“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,” Jess Lee, cofounder and CEO of Polyvore, said in a statement. Lee, it might be worth noting, was a protégé of current Yahoo CEO Marissa Mayer in the early 2000s, when the two worked together at Google. Mayer recruited Lee into Google’s famously elite associate product manager program, and Lee worked as a product manager on Google Maps for several years.

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