Pinterest to acquire The Yes
Pinterest announced on Thursday the acquisition of AI-powered shopping platform The Yes.
Founded in 2018 by CEO Julie Bornstein, and CTO, Amit Aggarwal, The Yes provides a personalized daily shopping feed based on users active input on brand, style, and size.
The platform currently welcomes hundreds of brand merchants and uses human expertise and machine learning to power a comprehensive algorithm in fashion. Pinterest believes that the acquisition will help accelerate its vision to be the home of taste-driven shopping.
“The Yes team are experts in building an end-to-end shopping experience. They share our vision of making it simple to find the right products that are personalized for you based on your taste and style. We’re very excited about The Yes’s talented team and technology as we build dedicated shopping experiences on Pinterest,” said Ben Silbermann, co-founder and CEO of Pinterest.
As part of the acquisition, Bornstein will report to Silbermann, and will lead shopping vision and strategy across Pinterest, creating a new and strategic organization dedicated to Pinterest’s taste-driven shopping efforts that will help steer the evolution of features for Pinners and merchants on Pinterest.
In the months following the closing of the transaction, Pinterest plans to shutter the The Yes app and website to allow the merged teams to focus on technology integration and evolving its shopping vision.
“I’ve spent my career at the intersection of shopping, fashion and technology and have seen first-hand the valuable impact of building technology that enables brands to join a platform with ease while enabling customers to share their preferences,” added Bornstein.
“Joining forces with Pinterest to broaden our reach utilizing such an inspirational platform is an exciting and ideal next step for our team and technology.”
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