The acquisition answers the question about the strategy of the Pinterest social network

Pinterest Inc. (PINS) announced last week the acquisition of The Yes, a fashion product selling platform. The main purpose of the acquisition is to integrate into the social network technologies for the selection and sale of goods at the request of customers. In a press release regarding the acquisition, Pinterest makes it clear that it plans to close both the app and the Yes website shortly after the transaction is completed.

The management of the social network is primarily interested in using technology, as well as the competencies of the company’s employees, to build an e-commerce platform within Pinterest. Note that Yes uses a patented algorithmic technology to personalize the shopping process. Most likely, this technology was the main reason for the purchase. Pinterest has repeatedly announced its intention to expand the capabilities of its social network.

One of the most promising areas is e-commerce. This year, the company started testing a personalized shopping feature called “Your Store,” but the new option is still at an early stage. Today, Pinterest’s main income is from advertising, but in the long term, the company intends to monetize tools for purchases. Pinterest management notes that the social network plans to become a place for impulsive purchases and provide users with a kind of product catalog personalized according to the unique tastes of consumers. Thus, The Yes is the most important acquisition for the implementation of the online trading project. E-commerce is a huge market, which in the US alone last year amounted to about $870 billion.