Pinterest’s latest acquisitions focus on e-commerce
15.12.2015 260 views
Pinterest Inc. has acquired two startups, social shopping service The Hunt and image-focused search app Pext, that could help consumers find and buy products they’re likely to be interested in. Terms of the deals were not disclosed.
The Hunt is a social network of sorts that consumers can use to help each other find products they saw in photos or social networks. For example, a consumer may post a photo of a magazine spread on The Hunt that features a model wearing fringed wedge boots and ask for help finding either “This exactly” or an item “Similar to this.” Other shoppers then share links to retailers’ product pages they believe feature that product. The Hunt’s co-founder and CEO Tim Weingarten and some of the company’s product team will join Pinterest.
Pinterest appears to be buying Pext, which is an app that helps users discover images relevant to their text messages, in order to add the company’s co-founder, Harsh Goel, to its roster. The social network notes that Google Inc. alumnus Goel has “extensive experience building image indexing and advertising technologies, mobile apps and discovery products.”
“The magic of Pinterest happens when you discover something you love that you didn’t even know existed,” Michael Lopp, Pinterest’s head of engineering, writes in a blog post. “We call it ‘building serendipity,’ and it’s all powered by world class engineering, making sure the right pin is discovered by the right pinner at the right time. Today we’re strengthening our ability to connect pinners to serendipitous Pins and products through the acquisitions of The Hunt and Pext, which include some of the best minds in mobile shopping, advertising and image indexing technologies.”
The acquisitions are the latest moves made by Pinterest to remake the social network into an e-commerce destination. Last month Pinterest launched The Pinterest Shop, a page that features an assortment of buyable pins and retailer shops selected by the social network’s staffers. And in June it rolled out buyable pins to let users buy products directly within a pin.
Source: Internet Retailer
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