Pinterest might have taken one of the first steps towards becoming a money making company. This week, the photo-sharing website announced that it has acquired Kosei, a start-up that drives commerce by making highly personalized and powerful product recommendations, as well as creating a system that contains more than 400 million relationships between products.
“One of the key ways we provide relevant and scalable solutions is through building distributed systems using machine learning. To accelerate our work in discovery and monetization, today we’re announcing the acquisition of Kosei, which includes some of the best minds in machine learning and data science,” wrote Michael Lopp, Head of Engineering at Pinterest.
Pinterest’s ad property is Promoted Pins, which basically allows brands to reach the target audience, who might otherwise miss them. Kind of like Twitter’s promoted tweets or Facebook’s sponsored posts. Kosei will help Pinterest to create better reach and targeting for advertisers. “As people use Pinterest to save and discover the things they want to do in the future, we have a unique and growing data set of more than 30 billion Pins that will only get more powerful over time. With the addition of the Kosei team, we can supercharge our existing graph to help brands reach people at the right moments, and improve content for Pinners,” wrote Lopp.