Millions of fashionistas have curated their dream wardrobe on Polyvore, but major changes are on the way for the community driven fashion site. On Friday, Yahoo bought Polyvore for a reported $60 million deal and some are wondering the reasons behind the startup's acquisition. Co-founder Jess Lee announced the Yahoo acquisition on the site's blog:
Going forward, Polyvore will still be the same Polyvore that you love, but we’ll have more resources to make it even bigger & better. Our mission of empowering people to feel good about their style will stay the same. We’ll continue to add cool new product features and roll out new perks for top members. We’ve accomplished a lot on our own, but together with Yahoo we can take Polyvore to its fullest potential.
According to Lee, integrating with a tech giant like Yahoo allows Polyvore to reach a larger audience and explore opportunities within its new owner. The acquisition reunites Lee with her former Google mentor Marissa Mayer, who's now the current president and CEO of Yahoo. Their personal history aside, it's a strategic business move for the startup company to enter the big leagues with the help of Yahoo.
“We also think there’s a lot of exciting opportunities to integrate and combine forces with the digital magazines such Yahoo Style and Yahoo Beauty," Lee told as Tech Crunch.
Are you excited about Polyvore x Yahoo?