Yahoo announced this afternoon that it was buying social shopping destination Polyvore. Yahoo said in its release that the acquisition would “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.”
There’s also a strong mobile shopping angle here too.
Yahoo did not disclose the purchase price but said that after the acquisition closes that the Polyvore brand will continue. It won’t become the new Yahoo Shopping — although I suspect it will get an overhaul.
Polyvore disclosed at one point that its audience was more than 70 percent female. The vast majority are under 45, with more than 50 percent of its audience under the age of 34. The company also says that its “average basket size across retail partners is over $383, which is higher than other leading social networks combined.”
Yahoo sees a range of uses for Polyvore as indicated in the quote above:
It’s a move that’s broadly consistent with Yahoo’s audience and growth strategy. We don’t know the price but it seems to be a smart acquisition and should strengthen Sunnyvale’s relationships with retailers and the advertising options it can offer them.