I’m curious. What is Pinterest?

I’m curious. What is

Pinterest Logo.svg
???. Good Question.

Pinterest is a very interesting Social Media platform.

The site was founded by Ben Silbermann, Paul Sciarra and Evan Sharp. But it’s managed by Cold Brew Labs and funded by a small group of entrepreneurs and investors.

Development of Pinterest began in December 2009, and it launched as a closed beta in March 2010.

What does it do?
Pinterest allows users to save images and categorize them on different boards. They can follow other users’ boards if they have similar tastes. Some of the more popular categories were Home, Arts and Crafts, Style/Fashion, and Food.


Pinterest users can also upload, save, sort and manage images, known as pins, and other media content (e.g. videos and gifts) through collections known as pinboards. Pinterest acts as a personalized media platform, whereby users’ content and the content of others can be browsed on the main page.

Users are allowed to then save individual pins to one of their own boards using the “Pin It” button, these Pinboards are typically organized by a central topic or theme (i.e. Style/Fashion). Content can also be found outside of Pinterest and similarly uploaded to a board via the “Pin It” button which can be downloaded to the bookmark bar on a web browser.

A Pinterest account can be created and accessed by linking it to a Facebook or Twitter profile. When a user re-posts or “re-pins” an image to their own board, they have the option of notifying their Facebook and Twitter followers; this feature can be managed on the settings page.

Pinterest also allows businesses to create pages aimed at promoting their businesses online.Such pages can serve as a “virtual storefront“. In one case study of a fashion website, users visiting Pinterest spent $180, as compared with $85 spent from users coming from Facebook. These users spent less time on the company’s website, choosing instead to browse from the company’s pinboard.

Outlook:

In February 2013, Reuters and ComScore stated that Pinterest had 48.7 million users globally.A study released in July 2013 by French social media agency Semiocast revealed the website had 70 million users worldwide.

Pinterest will generate its first revenue this year, when it begins charging advertisers to promote their wares to the site’s millions of hobbyists, vacation planners and do-it-yourselfers. Ads on the site could generate as much as $500 million in 2016, estimates Michael Pachter, an analyst at Wedbush Securities.

Where do they go from here?

Watch this space.
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Sources: Wikipedia
                  Google
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