Pinterest acquires AI-based shopping startup The Yes, co-founded by former Stitch Fix executive TechCrunch.

As Pinterest seeks to improve its online shopping experience, the company announced this afternoon that it is acquiring artificial intelligence technology. Fashion shopping service known as The YesFounded by Amit Aggarwal, technical co-founder of e-commerce veteran Julie Bornstein, former CEO of Stitch Fix. The terms of the deal have not been revealed, but the acquisition will help Pinterest create a new strategic organization that will help drive the company’s purchasing efforts, including developing functions for both buyers and retailers, the company said.

It comes at a time when Pinterest is trying to change the way people shop online. While users once relied on the Pinterest image board for inspiration, today they are more attracted to the author’s content, video, and highly personalized streams. “Yes” can help with the latter, given the technology that works under the hood.

Founded in 2018, The Yes has created a personalized daily shopping stream that learns the style of users as they shop from hundreds of fashion retailers. Focusing primarily on women’s fashion, including clothing, bags, and accessories, the app differed from Bornstein’s previous efforts at Stitch Fix, which included human stylists choosing items to deliver to more passive shoppers who wanted to surprise their monthly new finds. : boxes.

“Yes”, on the other hand, catered to those who actually shop’s online shopping more actively. It has also offered a wide range of brands, from Gucci, Prada և Erdem to modern brands such as Vince և Theory, to direct consumer brands such as Everlane և La Ligne , to everyday brands like Levis like TechCrunch. previously reported.

Interesting to its new buyer, The Yes has developed a large-scale fashion classification that uses human experience and machine learning to enhance its fashion search algorithms. Pinterest has learned that this system could be further developed to extend beyond clothing to reach other categories known on its website, such as home, beauty և food.

This is probably due to Pinterest’s growing efforts to engage creators of its platform, who are now posting videos իղ live broadcasts to encourage Pinterest users to make purchases of their products. When users view content and then turn to Pinterest, they can find more products, and the algorithm will be smarter when browsing.

Following the deal, Pinterest says Bornstein will report directly to Pinterest co-founder and CEO Ben Silberman, who will be tasked with spearheading the vision and strategy for his new position at Pinterest as senior vice president of Pinterest Procurement. This will include the creation of a new organization dedicated to taste-based shopping efforts on Pinterest. In addition, The Yes’s 40-member team will also join Pinterest after the deal is completed.

“The Yes team is an expert in creating the ultimate shopping experience,” Silberman said in a statement. “They share our vision to make it easier for you to find the right products that are personalized to you based on your taste և style. We are very excited about The Yes’s talented team և technology as we create a special shopping experience on Pinterest, ”he added.

Pinterest saw the deal as a combination of top talent, expertise and technology to help accelerate its vision of turning Pinterest into a new home for taste-based shopping, the company told TechCrunch.

“I have spent my career at the crossroads of shopping, fashion and technology, seeing first-hand the valuable impact of construction technology that allows brands to easily connect to the platform while allowing customers to share their preferences,” Bornstein said. “Joining forces with Pinterest to expand our reach using such an inspiring platform is an exciting and ideal next step for our technology team.”

As a result of the acquisition, The Yes will close its app and website, focusing exclusively on Pinterest.

The company expects the deal to be completed in the second quarter of 2022.

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