As Pinterest sets its eyes on improving the online shopping experience on its platform, the company announced this afternoon it’s acquiring the AI-powered shopping service for fashion known as The Yes, founded by e-commerce veteran and former Stitch Fix COO Julie Bornstein and technical co-founder, Amit Aggarwal. Deal terms were not disclosed, but the acquisition will help to establish a new strategic organization within Pinterest to help drive the company’s shopping efforts, including the development of features for both shoppers and retailers, the company says.
The Yes arrives at a time when Pinterest is attempting to navigate a shift in how people shop online. While users once relied on Pinterest’s pinboard of images to find inspiration, today, they’re more drawn to creator content, video, and highly personalized feeds. The Yes may be able to help with the latter, given the technology it runs under the hood.
Founded in 2018, The Yes built a personalized daily shopping feed that learns a user’s style as they shop from across hundreds of fashion merchants. Primarily focused on women’s fashion — including apparel, handbags, and accessories — the app was different from Bornstein’s earlier efforts at Stitch Fix, which had included human stylists picking out items to ship to more passive shoppers who wanted to be surprised by new finds in their monthly boxes.
The Yes, on the other hand, catered to those who actually browse and shop online in a more active manner. It also offered a broad selection of brands ranging from Gucci, Prada, and Erdem to contemporary brands like Vince and Theory to direct-to-consumer brands like Everlane and La Ligne to everyday brands like Levis, as TechCrunch previously reported.News Source: Tech Crunch