Pinterest Deal Indicates A Major E-Commerce Push

Pinterest (NYSE: PINS) announced it has agreed to acquire The Yes, a fashion shopping platform that creates a personalized feed based on user input. This is the company's most significant acquisition in some time and represents the first signs of a serious pivot in its growth strategy. Here's what we know so far, and why it could be such a significant move.

One interesting point is that Pinterest doesn't actually want to own and operate The Yes. In fact, the press release announcing the deal makes it quite clear that Pinterest plans to shut down both the app and website soon after the deal is finalized.

Image source: Getty Images.

Source Fool.com