Pinterest is a popular social media platform, that is based mostly on images and photos, shared by the users.
- Pinterest is an American image sharing and social media service.
- It is designed to enable saving and discovery of information.
- Or as it is commonly said on Pinterest “ideas”.
- In Pinterest the users can share images on a smaller scale, animated GIFs and videos, in the form of pinboards.
- The site was created by Ben Silbermann, Paul Sciarra, and Evan Sharp .
- It had over 400 million monthly active users as of August 2020.
- It is operated by Pinterest, Inc., based in San Francisco.
- Development of Pinterest began in December 2009.
- The site launched the prototype as a closed beta in March 2010.
- Nine months after the launch the website had 10,000 users.
- Silbermann said he personally wrote to the site’s first 5,000 users offering his personal phone number and even meeting with some of its users.
- The launch of an iPhone app in early March 2011, brought in more downloads than expected.
- This was followed by an iPad app and Pinterest Mobile.
- Pinterest mobile was a version of the website for non-iPhone users.
- Silbermann and a few programmers operated the site out of a small apartment until the summer of 2011.
- On August 10, 2011, Time magazine listed Pinterest in its “50 Best Websites of 2011” article.
- In December 2011, the site became one of the top 10 largest social network services, according to Hitwise data, with 11 million total visits per week.
- Pinterest won the Best New Startup of 2011 at the TechCrunch Crunchies Awards.
- For January 2012, comScore reported the site had 11.7 million unique U.S. visitors, making it the fastest site ever to break through the 10 million unique visitor mark.
- At the 2012 Webby Awards, Pinterest won Best Social Media App.
- Also, it was People’s Voice Award for best functioning visual design.
- Founder Ben Silbermann (left) at the South by Southwest Interactive conference in March 2012.
- On 23 March 2012, Pinterest unveiled updated terms of service that eliminated the policy that gave it the right to sell its users’ content.
- On August 10, 2012, Pinterest altered their policy so that a request or an invitation was no longer required to join the site.
- In October 2012, Pinterest launched business accounts allowing businesses to either convert their existing personal accounts into business accounts or start from scratch.
- Although starting out as a “social network” with boards, in later years the company has put increasing emphasis in visual search and e-commerce, such as shopping catalogs.
- In February 2019, The Wall Street Journal stated that Pinterest secretly filed for an initial public offering (IPO) of stock.
- The total valuation of the company at the time reached $12 billion.
- They went public on April 18, 2019 at $19 per share, closing the day at $24.40 per share.
- 79% are female
- 58% use Pinterest on a tablet
- 88% purchase a product they pinned
- 49% purchased 5 or more products they pinned
- Pinterest surprised everyone when researches founded that Pinterest took the lead with 57% growth while Facebook’s member base grew by 6% by overall member growth.
- In fact, Instagram, LinkedIn, Twitter, YouTube and even Google+ all grew faster than Facebook.
- It is the second social networks by growth in members
- Arts and crafts pins on Pinterest.
- These pins are usually link outs to websites though there are some that are actual photos of the pinner’s arts and craft projects.
- In fact, tutorials, guides, and do-it-yourself pins have a 42% higher click rate compared with all other types of pins.
- Several social media surveys show that Pinterest users not only buy more, they also spend more.
- Shopify users referred by Pinterest, for example, spend an average of $80 compared to Facebook referral of $40.
- Users have generated thirty billion pins (by mid-2014) in less than four years.
- These pins range from products, interior design, architecture, clothing, places, tutorials, and even fan art and fan fiction.
- Over 80% of pins are re-pins, compared to 1.4% of tweets re-tweeted.
- The powers that be behind this viral ability are Pinterest’s search function and category algorithms.
- While Twitter rely on trends that are every-changing, Pinterest has categories that are pretty much grouped based on similarity and tagging.
- An average pin can come up in search months after it was posted.
- Boards are created by the users to be aspirational – weddings, do-it-yourself decorating, arts and crafts, and party recipes – which means that pins can be repinned so many times over as long as there are users.
- About 25% of consumers reported buying a product or service after discovering it on Pinterest.
- Pinterest Launched Video Reactions in Q4 of 2019
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