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Pinterest To Acquire Shopping Platform The Yes

Pinterest To Acquire Shopping Platform The Yes

Pinterest To Acquire The Yes

Pinterest has inked a “definitive agreement” to acquire high-tech fashion-shopping platform The Yes.

The Yes was founded by former Stitch Fix executive Julie Bornstein and tech industry veteran Amit Aggarwal in 2018 to offer a feed-based shopping platform that personalizes the user experience based on user activity and input on brand style and size.

Today, The Yes has hundreds of brand merchants on its platform, and the company has built an extensive fashion taxonomy that leverages human expertise and machine learning to power its algorithm.

Through the acquisition, Pinterest has the potential to apply the company’s current brand relationships and shopping expertise to other categories on its social platform, 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,” said 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.”

Once the deal is closed, Bornstein will report to Pinterest’s co-founder and chief executive, Ben Silbermann. Bornstein is expected to create a new and strategic organization dedicated to Pinterest’s taste-driven shopping efforts that will help steer the evolution of features for both Pinterest users and merchants.

“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,” said Silbermann.

Under the terms of the deal, Pinterest will absorb The Yes and its team, doing away with the stand-alone app. Other terms of the agreement, including acquisition price, were not disclosed.

The transaction is expected to close in the second quarter of 2022.

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