Pinterest acquires AI shopping startup 'The Yes'

Pinterest, a photo-sharing social media network, has paid an unknown sum for the acquisition of 'The Yes,' an AI-powered shopping firm. The Yes was created in 2018 by CEO Julie Bornstein, a veteran of the eCommerce and fashion industries, and CTO Amit Aggarwal, a veteran of the tech business.

THE YES has grown over the years to give a customized daily shopping feed developed for each user that learns their style as they shop with hundreds of merchants across the fashion spectrum, including big names and discovery brands. The business stated late Thursday that it expects the transaction to completion in the second quarter of 2022.

Bornstein will report to Pinterest's Co-Founder and CEO, Ben Silbermann, after the purchase is completed, and will drive Pinterest's commerce vision and strategy. "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 personalised for you based on your taste and style," said Silbermann.

"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," added Bornstein.