Pinterest has announced a new multiyear strategic ad partnership with Amazon that aims to bring more brands and relevant products to its platform. The deal will make Amazon Pinterest’s first partner on third-party ads. The partnership represents a new direction for Pinterest, which has been working to adjust to consumers’ changing interests around product discovery in recent years.
Pinterest has been struggling with macroeconomic forces impacting its business. The company recently laid off 150 employees in February as it tried to reduce expenses. By comparison, Amazon’s digital ads unit in the same quarter did well, jumping 19% to $11.6 billion.
The Amazon ads partnership could potentially offer consumers a more seamless buying experience. When users encounter an Amazon ad on Pinterest, they’ll be taken directly to Amazon to make the purchase, making the buying process faster and easier. The company noted the implementation of the Amazon ads integrations will take place over multiple quarters, starting later this year.
