Pinterest has a good last quarter of 2020 behind us. Like other online platforms, Pinterest the fruits of an increase in e-commerce advertising during the holiday season. The social media platform that revolves around photos has 459 million monthly active users worldwide in the fourth quarter compared to 442 million in the third quarter.
Profit and trends Pinterest
Sales grew in the fourth quarter by about 76% compared to the year before. In total, this concerns a turnover in the fourth quarter of about 590 million euros. Earlier this month came the company already forecast the trends for 2021.
And previous summer Pinterest came up with a new option: find products based on your photos. So basically buy what you see. The new option is also called: ‘See it, Snap it, Buy it’. And that, according to the company, is the cause of the revenue growth.
Sales growth was mainly driven by the holidays and product enhancements in advertising. The company saw a six-fold increase in the number of businesses using the retail ad format in the fourth quarter.
“We welcomed more than 100 million monthly active users to Pinterest in 2020, more than any other year in our history,” CEO and co-founder Ben Silbermann said in a statement.
Pinterest is a social network site in the form of a bulletin board. Users can find images they find over the internet on their own ‘Pins’ board. In addition, other users can do a ‘Repin’ with which articles from others can be placed on their own pinboard. Pinterest is one of the fastest growing social media sites and especially popular among women. All news and developments around Pinterest have been included in this context.