Pinterest may not be the media darling it once was, just a couple of years ago. But there is still lots happening with this company. Here are some of the top stories we’ve been following lately.
Pinterest gave their mobile app a substantial rebuild this month, giving it an updated look and blazing fast speed. Now the app can be read in 31 languages, which is critical, given the substantial growth of Pinterest in non-English speaking countries.
Last month Pinterest not only opened up Promoted Pins in the UK, they extended the Marketing Developer Partners program (MDP) to the UK as well. According to the company, MDPs are a “select group of technology partners… that become an integral part of the marketing ecosystem.”
With revenue increase of 500% over last year, rumours are bound to circulate. Despite high interest in an IPO, Pinterest cofounder Ben Silbermann insists the company is focused on improving the user experience for those outside the US and building a sustainable revenue model.
According to Pinterest chief reactive officer Evan Sharp, the company has no plans at this time of going public. Apparently, the company sees greater benefit in remaining private with more control, flexibility, and the ability to focus on the longer term.
Pinterest announced the acquisition of ‘Curator’, the design app, and simultaneous hiring of its founder as lead product designer. This is Pinterest 10th acquisition and second international deal. Nordh will work on broadening the company’s appeal to an increasingly international audience.
It’s official. Pinterest is no longer an American phenomenon. More than half of its 100 million monthly active users are from outside the country. Since the beginning of 2016, two-thirds all new users have been from overseas. During this time period, users in Germany have nearly tripled while places like France, Brazil and Japan have experienced a two-fold increase.
Forget the DIY crafts and wedding part favours. Pinterest is becoming popular with academia, where the site is being used to analyze novels and other literary works. Pins that represent specific passages or chapters in a book are collected on a dedicated board. These Pins help students draw connections between different pieces of information and gain a better understanding of the topic.
Ever wonder why Pinterest forces you off its mobile site and onto its app? If you’ve ever had this happen, you’ll now how incredibly frustrating this can be. Casey Winters, the guy at Pinterest who makes this happen says “you get more engaged users and more revenue over time.” Can’t argue with the logic, especially since they’ve tested it, nevertheless, it’s still annoying.
There’s a finite amount of money available for advertising. For Pinterest to shift money allocated to big players like Google and Facebook, the company needs to work even more closely with brands. Currently brands are looking for comparable stats, more sophisticated Pins, finding a balance between commerce and content, beefing up ads and moving beyond fashion. Pinterest may be in this for the long haul, but they sure have their work cut out for them.
Featured Collections are available to users in Brazil, France, Germany, Japan and the U.K., and are available on both Android and the Web. These are hand-curated pins, users, boards and searches that emphasize local and trending ideas. According to Pinterest, easily tests show that Featured Collections help users find and follow relevant boards, increasing their level of engagement.