pinterestthe social network where users find inspiration, to buy The Yes, an AI-powered fashion shopping startup. It aims to improve the online shopping experience on the platform.
The Yes wants to pay attention to users who browse and buy online in a more active way. In this way, it offers a wide selection of brands ranging from Gucci and Prada, to the emblematic Levis. One of the reasons for this purchase is the creation of machine learning to power their fashion search algorithms.
Integration with Pinterest
As a result of the acquisition, the company will cease operations and focus solely on Pinterest, leaving the team to focus on integrating this technology and developing its buying vision. The intention of both parties is that the agreement be formalized in the second quarter of 2022.
E-commerce veteran and former company COO Julie Bornstein founded The Yes in 2018 after working at Stitch Fix, Sephora and Nordstrom. Bornstein will lead buying and strategy at Pinterest and will report to Pinterest co-founder and CEO Ben Silbermann.
I have spent my career at the intersection of shopping, fashion and technology and have seen firsthand the valuable impact of creating technology that allows brands to easily join a platform while allowing customers to share their preferences. Joining forces with Pinterest to expand our reach using such an inspiring platform is an exciting and ideal next step for our team and our technology.
Julie Bornstein.
In 2019, just one year after its foundation, The Yes raised $42 million through its first round of funding. It was led by NEA, True Ventures and Forerunner. The operation valued the platform at one hundred million dollars.
