Pinterest has announced the acquisition THE YES, an AI powered platform that allows people to shop a personalized feed based on the user’s active input on brand, style, and size.
Pinterest believes this acquisition will help accelerate their vision for the platform 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.
– Ben Silbermann, Co-Founder and CEO, Pinterest
With hundreds of brand merchants on its platform, the team at THE YES has built an extensive fashion taxonomy that uses human expertise and machine learning to power a comprehensive algorithm in fashion. THE YES’s brand relationships and shopping expertise can potentially be applied to other categories on Pinterest such as home, beauty and food.
“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. 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.”
– Julie Bornstein, Founder and CEO, THE YES
Pinterest is a shopping platform that brings together the unique commercial intent of its audience and the ability to visually explore products as you would in a magazine or catalog. In a world of impulse buying, Pinterest is designed to enable inspired shopping. It’s like a catalog, personalized to your unique tastes.
In the months following the closing of the transaction, Pinterest plans to sunset the THE YES app and website to allow the merged teams to focus on technology integration and evolving our shopping vision.
Subject to the satisfaction customary closing conditions, the transaction is expected to close in the second quarter of 2022.
