Pinterest acquires two startups to improve search - Mobile World Live

Pinterest acquires two startups to improve search

10 DEC 2015

Pinterest acquired The Hunt, provider of a community-powered shopping service, as well as Pext, an app that turns text messages into memes.

Pinterest said the two firms have “some of the best minds in mobile shopping, advertising and image indexing technologies” and that “the acquisitions will strengthen our ability to connect Pinners to serendipitous pins and product.

Over the past two years, The Hunt has been building a community-powered service for finding products. Users can post a photograph of an item they have found on social media sites like Instagram, Tumblr or Pinterest, and other users then help them find where those items can be purchased from.

According to a Wall Street Journal report, “The Hunt specifically may help Pinterest in its quest to capture a stake in the e-commerce market and support a hefty valuation of $11 billion.”

The Hunt’s co-founder and CEO, Tim Weingarten, will be a product manager on the commerce team while the rest of his team will work on engineering and data science.

The Hunt has about four million registered users and raised $15.5 million from investors, the report said.

Pext is an app by OMG Labs that turns text messages into memes by helping users discover images relevant to their messages.

According to the WSJ report, this acquisition is more about talent. Pext’s co-founder Harsh Goel will join Pinterest and the company said he “comes with experience building image indexing and advertising technologies, mobile apps and discovery products”.

Having launched buyable pins for iOS users in the US in July, Pinterest rolled out the service to Android users in the States last month, while Pinterest Shop is in the works, similar to the shopping section Facebook is testing.

Meanwhile, Pinterest is also working on Google’s Accelerated Mobile Pages (AMP) with WordPress, Twitter and the open-source community.

“AMP is all about solving a pain point for everyone on the mobile web – speed. It is an open-source architecture for fast mobile-optimised content,” it said, adding that “a better, faster mobile web is better for everyone, including users, platforms like Pinterest and publishers”.

Author

Saleha Riaz

Saleha joined Mobile World Live in October 2014 as a reporter and works across all e-newsletters - creating content, writing blogs and reports as well as conducting feature interviews...More

Read more

Related

Tags