One of the best things about human beings is that we are always trying to get better. You see, no matter how far we get to in our lives, it’s almost instinctive for us to go and pursue that next step. This is what has allowed us to become the most dominant species over time. However, in order to make it happen, we did enlist some external help. The stated external help arrived in the disguise of many different ideas, but if we have to pick one that helped us the most, it has to be an idea called technology. Technology’s emergence was such a game-changer, as it instantly made us smarter than ever before. In fact, even after practically reinventing our very identity, the creation would continue to scale things up in one capacity or the other, therefore helping us push our boundaries on a rather consistent basis. Now, when you are playing with a progressive dynamic of this sort, you almost start expecting some ingenious by-products along the way, and looking at a recent acquisition, we might be set to see another one join the list soon.
Pinterest has officially acquired the AI-powered shopping startup, The Yes, for an undisclosed fee. The acquisition doesn’t seem like a surprise, considering Pinterest has been trying to build its e-commerce presence for a long time now. Talk about why the company particularly picked The Yes, it has everything to do with the startup’s expansive nature. Founded in 2018, The Yes has found enormous success in building a personalized shopping experience through its ML-driven algorithms that learn user buying patterns as they make their purchase. Put that alongside a wide assortment of brands, including Gucci, Prada, Vince, Theory, Levis, Everlane, La Ligne and Erdem, offered by the platform and you have a prospect that can really make a place for itself in the e-commerce business. While The Yes’ focus has mostly remained on women’s fashion so far, the company’s AI system is open to accommodate other categories like home, beauty, and food, basically all the segments that are popular on Pinterest’s own platform.
When asked to extend her views on the acquisition, The Yes’ founder, Julie Bornstein said:
“I’ve spent my career at the intersection of shopping, fashion and technology and have seen firsthand 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.”
According to certain reports, the acquisition will see The Yes’ 40- person workforce join the Pinterest’s ranks. Furthermore, as a result of the deal, the shopping startup will also shut down its official app so to dedicate all the technological capabilities to Pinterest’s grand e-commerce ambitions.