Yahoo just sealed another ambitious acquisition deal. The company announced today that it has reached an agreement to acquire Polyvore, a fashion-oriented e-commerce business founded in 2007. The announcement doesn't give a price for the deal, but the cost to Yahoo is likely to be substantial. Polyvore had raised $22 million in seed funding, with the most recent round closing in January of 2012.

"The combination of Yahoo’s industry-leading digital content with Polyvore’s expertise in community and commerce has outstanding potential," said Yahoo executive Simon Khalaf in a statement accompanying the annoucement. "We are thrilled to have the Polyvore team join us."

Yahoo CEO Marissa Mayer has long been close with Jess Lee, the founder and CEO of Polyvore, beginning when Mayer recruited Lee to work at Google in the early '00s. Polyvore has also collaborated closely with Yahoo Style, partnering for a number of subscriber-building competitions. The acquisition appears to be an extention of those partnerships, as Yahoo looks to Polyvore as a commerce partner for its editorial offerings. "Polyvore will strengthen Yahoo’s digital magazines and verticals through the incorporation of community and commerce," the official announcement reads, "and together Yahoo and Polyvore will power native shopping ads that drive traffic and sales to retailers."