Mar 8, 2017

Pinterest acquires Q&A app from Twitter co-founder

JD Lasica / Flickr CC

Pinterest, the online service for bookmarking images, has acquired Jelly, a crowdsourcing Q&A app co-founded by Biz Stone, one of Twitter's founders.

As part of the deal, Stone will join Pinterest as a special advisor to co-founder and product chief Evan Sharp, while his co-founder, Ben Finkel, will join Pinterest's growth product team, said the company. The transaction was "small and all stock," a source close to the deal told Axios.

Search team: Despite being known as a service for creating collections of cake recipes or furniture ideas, Pinterest has been heavily investing in image search technology, and has said it wants to become the "Google of image search." Jelly is also in the search business, though its app focuses on helping people get answers from others in the community, along with some assistance from technology. However, it's still unclear what will happen to Jelly's app, according to a blog post from Stone.

Un-pivot: Stone and Finkel first began working on Jelly in 2013 as a way for people to crowdsource answers to questions via their social media networks. The startup quickly raised millions in funding from venture capitalists like Greylock, but by late 2014, was already shifting its focus to a different app and began winding down within months. However, as Stone later explained, he was still interested in how people search for information, and by spring 2016, the company was back to working on a new version of Jelly. Stone's joke that his company did an "un-pivot"—a play on Silicon Valley jargon for shifting course—even prompted the press to have some fun with it.

The story has been updated with additional details about the deal.

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Biden formally secures Democratic presidential nomination

Joe Biden speaks at Delaware State University's student cente on June 5. Photo: Jim Watson/AFP via Getty Images

Former Vice President Joe Biden became the formal Democratic presidential nominee on Friday evening, per AP.

The big picture: Biden has been the presumptive frontrunner to take on President Trump since Sen. Bernie Sanders suspended his campaign in early April.

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Illustration: Sarah Grillo/Axios

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Scoop: German foreign minister to travel to Israel with warning on annexation

Heiko Maas. Photo: Michael Kappeler/picture alliance via Getty Images

German Foreign Minister Heiko Maas is expected to travel to Israel next week to warn that there will be consequences if Israeli leaders move forward with plans to annex parts of the West Bank, Israeli officials and European diplomats tell me.

Why it matters: Israeli and European officials agree that if Israel goes ahead with unilateral annexation, the EU will respond with sanctions.