Yahoo is acquiring social shopping site Polyvore to boost its consumer and advertiser offerings.
Polyvore lets users curate clothing, accessories and lifestyle goods on a comprehensive, social media-oriented platform, which sells products from over 350 retailers.
The acquisition is aimed at augmenting Yahoo’s four key financial growth areas (known as Mavens), which are mobile, video, native and social.
“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,” the company said in a statement.
Three ex-Yahoo engineers named Jianing Hu, Guangwei Yuan and Pasha Sadri founded the shopping platform back in 2007. Now, post-acquisition, the company’s CEO Jess Lee will join Yahoo and report to Yahoo’s SVP of Product and Engineering Simon Khalaf.
In 2012, Polyvore, which reportedly has over 20 million monthly users and offices in Mountain View, San Francisco and New York, received a $14 million Series C funding from investors including DAG Ventures, Benchmark Capital and Matrix Partners.