The following is an excerpt from Alex Perry | July 23, 2018 | ibtimes.com |
The lifestyle-planning social network Pinterest apparently wants to go public within the next year. A new report from CNBC indicates the travel, recipe and fashion-centric website wants to launch its initial public offering by the middle of 2019. According to CNBC’s sources, Pinterest has accumulated almost $1 billion in ad revenue, which could be seen as an important milestone in the process.
Pinterest, which launched in March 2010, could apparently double its $500 million sales figure from last year by the end of 2018, per CNBC. The very nature of the app makes it appealing to advertisers: Pinterest users “pin” things they like, from travel destinations to clothing brands, into lists that their friends can look at. A pin on Pinterest is a more accurate endorsement of a product than a Facebook or Twitter "like."
Merchants can also post “buyable pins” on the site, taking out the middleman between users and products. More than half of Pinterest’s 200 million users reportedly use the site to purchase products, which is significantly higher than on Facebook or Twitter.
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