Visual bookmarking tool Pinterest announces that it plans to acquire an artificial intelligence-powered shopping platform for the fashion industry, THE YES. However, no information has been provided yet regarding the valuation of this acquisition deal.
According to Pinterest, THE YES’s mission of being the home of taste-driven shopping will be accelerated by THE YES’s leadership, innovative technology, and skilled staff, which combines shopping knowledge with the fashion industry’s reputation.
Bornstein will report to Silbermann and will oversee Pinterest’s retail vision and strategy, establishing a new and strategic organization dedicated to Pinterest’s taste-driven buying operations, which will assist in the evolution of features for Pinners and merchants on Pinterest.
Co-founder and CEO of Pinterest, Ben Silbermann, said, “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 personalized products for you based on your taste and style.”
He further added that they are ecstatic with THE YES’s brilliant staff and technology as they create specialized buying experiences on Pinterest.
According to Pinterest, it is a shopping platform that combines its audience’s distinct commercial motive with the opportunity to visually explore things like one would in a magazine or catalog.
THE YES was founded by Julie Bornstein and Amit Aggarwal in 2018, who currently serve as the company’s CEO and CTO, respectively. THE YES has grown to give a customized daily shopping feed that learns a user’s style as they shop with hundreds of merchants throughout the fashion spectrum, including big names and discovery companies.
CEO of THE YES, Julie, said, “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.”
Julie also mentioned that joining together with Pinterest to expand their reach through such an inspiring platform is an exciting and natural next step for our team and technology.