October 7, 2022

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Pinterest to Acquire THE YES, an AI Powered Shopping Platform for Fashion

SAN FRANCISCO, June 02, 2022–(Small business WIRE)–Pinterest, Inc. (NYSE: PINS) – Right now, Pinterest is asserting that it is signed a definitive arrangement to receive THE Indeed, an AI powered browsing platform for fashion that allows people to shop a customized feed primarily based on the user’s energetic enter on model, fashion, and measurement. Pinterest believes that THE YES’s management, innovative technological innovation and gifted staff, combining buying experience with trend sector believability, will assistance speed up Pinterest’s eyesight for it to be the dwelling of style-pushed purchasing.

With hundreds of brand name merchants on its platform, the staff at THE Indeed has constructed an considerable vogue taxonomy that utilizes human skills and equipment mastering to electric power a thorough algorithm in trend. THE YES’s brand associations and buying skills can most likely be utilized to other types on Pinterest this kind of as household, natural beauty and food items.

THE Certainly was launched in 2018 by CEO Julie Bornstein, an ecommerce and style market veteran and CTO, Amit Aggarwal, a tech marketplace veteran. Above the past various decades, THE Certainly has scaled to present a personalised each day searching feed that learns a user’s design as they store with hundreds of merchants, which includes global brands and discovery brands throughout the fashion spectrum.

On the closing of the transaction, Julie will report to Pinterest’s Co-Founder and CEO, Ben Silbermann, and will guide purchasing eyesight and tactic across Pinterest, creating a new and strategic corporation committed to Pinterest’s taste-pushed browsing initiatives that will enable steer the evolution of attributes for Pinners and retailers on Pinterest. Pinterest is thrilled to welcome THE Indeed group to be part of Pinterest following the closing of the transaction.

“THE Yes crew are professionals in building an end-to-conclusion browsing encounter. They share our eyesight of generating it easy to locate the proper merchandise that are personalised for you based on your taste and fashion. We’re really psyched about THE YES’s proficient crew and technological innovation as we make devoted shopping ordeals on Pinterest.” – Ben Silbermann, Co-Founder and CEO of Pinterest

“I have invested my vocation at the intersection of shopping, style and technological innovation and have found first-hand the valuable impact of setting up engineering that enables brand names to be a part of a platform with ease although enabling customers to share their preferences. Becoming a member of forces with Pinterest to broaden our reach utilizing these kinds of an inspirational system is an fascinating and suitable future move for our group and technological innovation.” – Julie Bornstein, Founder and CEO of THE Certainly

Pinterest is a searching system that brings with each other the one of a kind professional intent of its viewers and the capability to visually take a look at products as you would in a magazine or catalog. In a entire world of impulse acquiring, Pinterest is made to allow impressed shopping. It is like a catalog, individualized to your one of a kind tastes.

In the months adhering to the closing of the transaction, Pinterest options to sunset the THE Yes app and web page to allow for the merged groups to target on technologies integration and evolving our purchasing eyesight.

Subject to the pleasure customary closing circumstances, the transaction is predicted to near in the next quarter of 2022.

This conversation includes ahead-wanting statements in the indicating of relevant securities guidelines. Forward-seeking statements and information and facts typically relate to upcoming situations and predicted revenues, earnings, hard cash flows or other features of our functions or running effects. Forward-on the lookout statements are generally determined by the terms “will,” “can,” “assume,” and equivalent expressions, including the adverse thereof. The absence of these phrases, having said that, does not mean that the statements are not ahead-seeking.

For the reason that these ahead-hunting statements include threats and uncertainties, there are vital factors that could bring about our precise final results to differ materially from the anticipations expressed in the ahead-hunting statements. These factors consist of, without limitation, the pursuing: failure to obtain expected regulatory approvals in a timely manner or if not failure to satisfy any closing ailments to the proposed acquisition of THE Indeed pitfalls involved with tax liabilities or changes in U.S. federal tax guidelines or interpretations to which the proposed transaction with THE Indeed or the events thereto are topic pitfalls similar to the operation of THE YES’s small business prior to the closing of the acquisition failure to properly combine any new enterprise failure to comprehend the anticipated added benefits of any combined operations unanticipated charges of acquiring or integrating THE Sure possible effect of announcement or consummation of the proposed acquisition on relationships with third parties, together with workers, consumers, companions and rivals lack of ability to keep key personnel adjustments in laws or government laws affecting the acquisition or the events and economic, social or political ailments that could adversely impact the proposed acquisition or the events. More details about these and other hazards that might affect our enterprise are included in our Sort 10-K for fiscal 2021 and in our other SEC filings. You can track down these stories by means of our web page at http://investor.pinterestinc.com/. We warning you not to location undue reliance on any forward-wanting statements, which converse only as of the day hereof. We do not undertake any obligation to update any ahead-looking assertion or other details in this communication, except to the extent required by legislation.

***Financial phrases of the transaction have been not disclosed***

View source version on businesswire.com: https://www.businesswire.com/news/house/20220602005897/en/

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