Is Pinterest Gearing Up For An IPO?

Launched in March 2010, Pinterest is a website and mobile app that gives its users the tools to discover, collect, and share items on boards they create. And the board possibilities, it seems, are endless.

Want to eat and live healthier? Make a board filled with tips and recipes for doing just that. Love fashion? Create a board that demonstrates your personal style choices. Dreaming of redecorating your home or apartment? Make a board that has all of your potential design ideas.

This approach has really caught on with users in the social media sphere, propelling Pinterest to incredible growth and 200 million monthly users. In fact, the company reportedly only took nine months to go from 50,000 unique monthly visitors to 17 million unique monthly visitors. Compare that to 16 months for Facebook (FB – Free Report) and 22 months for Twitter (TWTR – Free Report) to achieve the same goal.

Pinterest possesses a unique balance of consumer and product, and uses advertisements to its advantage. Whereas ads on Facebook stick out like a sore thumb, Pinterest works ads into the experience as a while. They are (almost) invisible.

Pinterest has also curated an audience of mostly women. This not only presents new possibilities in terms of marketability and loyalty, but it also drives online sales since women are more likely to shop and buy online.

New Products

Over the past few years, Pinterest has updated its website with new products. The company has something called “Action Buttons,” allowing users to instantly add all the items from a cooking recipe straight to a shopping cart, or add a gadget straight to their wish list on Amazon (AMZN – Free Report) .

The company offers tools called Buyable Pins, which let consumers purchase directly from partners Pinterest works with. Users will see prices, be able to select color or quantity, and then tap a button to buy the product.

After a successful first phase with selected advertisers—and using a tool called “Promoted Pins”—Pinterest is opening its ad sales platform to all merchants. Promoted Pins look just like regular pins, and according to the company, over 75% of pins saved to Pinterest come from businesses. “Promoted Pins don’t interrupt or distract Pinners. They help people find the products and services that are right for them,” said the company in a blog post.

Print Friendly, PDF & Email

Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

Share This Post On

Submit a Comment

Your email address will not be published. Required fields are marked *