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Pinterest now has 250 mn monthly users

September 11
08:53 2018

San Francisco, Sep 11 (IANS) Visual search giant Pinterest has revealed that it is being used by 250 million people each month as it quietly continues to grow and other social networks slightly falter.

“At a time when the Internet can feel increasingly negative and politicised, we think it’s remarkable that a quarter of a billion people are choosing to spend their time on Pinterest, a place that helps them feel positive and optimistic about the future,” the company wrote in a blog post late on Monday.

Over half of the users on the platform and 80 per cent of new sign ups are from outside the US.

“There are now more than 175 billion Pins to explore on Pinterest — up 75 per cent since early last year. People have been saving all kinds of different ideas here, like products they love (+115 per cent), style ideas (+38 per cent), art (+50 per cent) and DIY projects to try (+35 per cent),” the company added.

The visual search major has secured more than $1 billion in venture capital funding, most recently raising $150 million at a $12.3 billion valuation, according to Tech Crunch.

Pinterest is reportedly looking at a mid-2019 Initial Public Offering (IPO) and expects to reach $1 billion in annual revenue for the first time.

IANS

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