Who owns Pinterest?- Full History

Who owns Pinterest?

All about them 

An American image sharing and social media service called Pinterest. It is created for enabling saving and discovering information and ideas on the online platform. By using images on a smaller scale, animated GIFs and videos, in the form of pinboards. Let’s know Who owns Pinterest? Pinterest was created by – 

  • Ben Silbermann, 
  • Paul Sciarra, and 
  • Evan Sharp

In March 2021, the company earned more than four hundred and seven hundred million global monthly active users. They are based in San Francisco.

History 

After nine months of the launch, the website gained ten thousand users. Silbermann interacted with fifty thousand users. He offered them his contact number, even met some of them. The iPhone app was launched at the beginning of March 2011 an outcome is a big number of downloads than was expected. During the same time, the app was created in a different version for non-iPhone users. According to Hitwise data, Pinterest became some of the top ten social media services. By more than ten million visits per week. The company got an award for being the Best New Startup of 2011 during the TechCrunch Crunchies Awards.

How is the usage of Pinterest? 

Using the site requires the site to register. The service is capable to be assessed through web browsers and apps for Apple, Android, and Microsoft. As of February 2013, the company gained more than forty-eight million users across the globe. In July 2013, the number of users increased to seventy million internationally. Then in July 2020, the site has four hundred million users per month. 

How is the demographic for Pinterest?

The site is mostly appealed to women. Mostly for the early user base. A report from 2020 stated that about sixty percent of international users are female. Even though males aren’t considered as the target audience on Pinterest. The company found out that the usage increased to forty-eight percent. When it comes to the age distribution, the users from the age eighteen to twenty-five have grown much after than the users with the age over twenty-five. On the other hand, both users over twenty-five and eighteen to twenty-five as well as the age of twenty-five to forty have the interest to use the site. 

What kind of content do they create?

The creators of Pinterest sum up the service as a “catalog of ideas”, for inspiring the users to do what they want, to do their hobby, even though the site is not known for being an image-based “social network”. They also have the biggest inspiration for fashion profiles. In recent years, the company has also described the site as a visual search engine. The site has pins and boards. It means that each pin is an image that is linked to a website or an article. 

The users can save the pins from one user’s board to their board is called repinning. Now boards are known as a collection of pins. They are dedicated to a specific theme, for example, fashions, books, or food. The boards have various ideas. Those can be divided into sections for certain pin ideas. The users can see each other. They can even follow the boards that consist of the home feed. In August 2016, the site presented a video player that allows the users and brands to upload and store clips of any length straight to the site.

How did Pinterest monetize Pins?

Once, there was a traditional method to generate revenue. Now Pinterest has found a way to utilize a unique pin system for creating opportunities that will monetize. The organization desegregates a button called to buy it where it allows the users to purchase the pinned goods straight from Pinterest instead of visiting the website. The wholesaler can get involved in platforms –

  • BigCommerce, 
  • Shopify, or 
  • Salesforce Commerce Cloud 

This is a way for getting the opportunity to partner with the site. 

Who owns Pinterest?

The owner of Pinterest earned about one hundred and fifty million dollars per click. The owner of Pinterest, founder, and CEO is Ben Silbermann. He was raised in Iowa, and his parents were doctors. Ben too became a doctor and studied at Yale, decided to change his path. In March 2012, he gave a speech at Salt Lake City to share his background story and talked about how he founded Pinterest and explained the importance of the company, and establishment. 

Ben Silbermann is a young CEO and entrepreneur with the capability to inspire people. He created Pinterest as a great online platform where people can discover and create amazing things. Before the launch of Pinterest, he used to be an employee of Google, he worked in the online advertisement group. After a brief time, he departed. He and his college friend Paul Sciarra started to create an iPhone app. 

Who bought Pinterest?

Recently Microsoft is deciding on a deal with Pinterest. They are making an acquisition deal of more than fifty billion dollars for the social media business. It was twice as the biggest deal as the purchase of LinkedIn during 2016 of twenty-six billion dollars. And Pinterest gave thought in previous and decided to continue to be individualistic. Microsoft made efforts for getting to the pinboard platform Pinterest. 

The negotiations deal wasn’t active yet. The acquisition strategy of Microsoft is all about focusing the collecting various active online communities to run on the cloud platform. The social media Pinterest has their complete focus creating the pin to inspire the customer on their hobbies. Such as reading, cooking, and many more. It can even be pop culture. It’s one of the reasons they choose to be independent. The business boomed during the covid-19 pandemic where the customers spent most of their time online, they are more active than before across the globe. 

Does Pinterest belong to Facebook?

This is what most people asked an account manager of Pinterest, they are curious about the comparison and similarities. One manager stated Pinterest is not Facebook especially with the strategies. Those are that used in Facebook cannot be applied to Pinterest. They also want to make it clear to the users that both social media are different platforms. Here are the differences – 

  • Social media vs Discovery platform – Facebook is for the users to interact with each other. They encourage each other to do many things. Such as to like, comment on the posts, they can join groups to connect with people. When it comes to Pinterest, the users don’t just have conversations with each other or comment on the pins. 
  • Advertisement outcome – When it comes to running Facebook, they need to pay for a campaign for a certain amount of time and when it’s done, it’s over. As for promoting a pin on Pinterest, the exposure last a bit longer until the campaign ends. They can share the pins, and the results will get an outcome to a huge number of users until the campaign is over. The pin will appear on every site, even the ones that aren’t used for promotion. It will give a boost for pushing it at the top of the search also the smart feed. 

What other companies does Pinterest own?

In April 2019, Pinterest planned for going public at a valuation of eleven billion dollars. It is lower than the twelve billion dollars valuation they received from the funding round. Pinterest also decided to set the range for opening public offerings from fifteen to seventeen dollars per share. It gives the valuation about eleven billion dollars in the upper range. There was an expectation on the price of the IPO along with the shares that were traded on the New York Stock Exchange under the ticker PINS. However, in 2018 the company lost the money, with a net loss of more than sixty million dollars and revenue of seventy million dollars. 

Why Pinterest is popular? 

It’s not easy to bookmark any content a user wants to read later on their social media profiles. Especially if they share a lot of content daily. It’s not easy to get a certain content within all other content on sites such as Twitter since the users tweet more than ten times per day. But this problem doesn’t happen on Pinterest since the images can be organized and it’s easy to find the specific content. The images can be organized in the Pinboard by looking at the images in the board and the users can then identify the image that links to the website. They can also store all the content the users want to read on the right Pinboard. It is what makes them unique. For example, if they want a book recommendation, they can arrange the pins by genre or alphabetic order or in any way they want.

To conclude, Pinterest is currently the third biggest social media network in the United States. As of 2019, they overtook Snapchat as the country’s third-biggest popular social media. The company has more than eighty million monthly active users, next only to Facebook and Instagram.

Who owns Pinterest?- Full History

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