June.29.2016
Orrick has advised Pinterest in its acquisition of mobile shopping app Tote. Founded in 2014, Tote is an app that highlights products suggested by fashion influencers and friends and allows consumers to browse and purchase the products directly within the app. As part of the acquisition, Tote's co-founders Mike Bidgoli and Langtian Lang will join Pinterest as product manager and software engineer, respectively.
Financial terms of the deal were not disclosed. Pinterest was advised by M&A and private equity partner Mark Seneca. Mark has advised Pinterest in its last five acquisitions, including most recently its acquisitions of ad tech startup Kosei and image recognition startup VisualGraph.