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Pinterest to acquire The Yes

THE YES has scaled to provide a personalized daily shopping feed that learns a user’s style as they shop with hundreds of merchants

Pinterest to acquire The Yes
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Pinterest, the tech company best known as an inspiration and discovery platform, will purchase The Yes, an AI-powered shopping platform that enables users to shop a personalised feed based on the user's input on brand, style and size.

THE YES was founded in 2018 by CEO Julie Bornstein, an ecommerce and fashion industry veteran and CTO, Amit Aggarwal, a tech industry veteran.

Over the past several years, THE YES has scaled to provide a personalized daily shopping feed that learns a user's style as they shop with hundreds of merchants, including global brands and discovery brands across the fashion spectrum.

Upon the closing of the transaction, Julie will report to Pinterest's Co-Founder and CEO, Ben Silbermann, and will lead shopping vision and strategy across Pinterest, creating a new and strategic organization dedicated to Pinterest's taste-driven shopping efforts that will help steer the evolution of features for Pinners and merchants on Pinterest. Pinterest is excited to welcome THE YES team to join Pinterest following the closing of the transaction.

Pinterest is a shopping platform that brings together the unique commercial intent of its audience and the ability to visually explore products as you would in a magazine or catalog.

In a world of impulse buying, Pinterest is designed to enable inspired shopping. It's like a catalog, personalized to your unique tastes.

In the months following the closing of the transaction, Pinterest plans to sunset the THE YES app and website to allow the merged teams to focus on technology integration and evolving our shopping vision.

Subject to the satisfaction customary closing conditions, the transaction is expected to close in the second quarter of 2022.

This communication contains forward-looking statements within the meaning of applicable securities laws.

Forward-looking statements and information usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of our operations or operating results.

Forward-looking statements are often identified by the words "will," "can," "expect," and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking.

Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause our actual results to differ materially from the expectations expressed in the forward-looking statements.

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