Pinterest announced that it is acquiring THE YES, an AI powered shopping platform for fashion that enables people to shop a personalized feed based on the user’s active input on brand, style, and size.
Financial terms of the deal were not disclosed.
THE YES was founded in 2018 by CEO Julie Bornstein, an ecommerce and fashion industry veteran and CTO, Amit Aggarwal, a tech industry veteran.
“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.
Upon the closing of the deal, Julie Bornstein will report to Ben Silbermann, and will lead shopping vision and strategy across Pinterest, creating a new and strategic organization dedicated to Pinterest’s taste-driven shopping efforts.
“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,” said Julie Bornstein.
In the months following the closing of the transaction, Pinterest plans to shut down the THE YES app and website. The deal, which is subject to the satisfaction customary closing conditions, is expected to close in Q2 2022.