Pinterest penetrated into most people’s lives as their library for discovering creative ideas. Isn’t it? In fact, the platform was created to serve the same purpose. The social media service and image or video sharing service is designed to inspire people with travel, food, decor, and fashion ideas. This amazing little search engine for discovering great ideas is now familiar across the world. Of course, the majority of its users are youngsters, moms and dads, but you will be surprised to know that nearly 15% of Pinterest users’ are above 65 years old. Shocked? Well, let’s see many such details in this article.
Page Contents
Who Owns Pinterest?
First things first, you must learn who owns Pinterest, and the story behind its creation before we see interesting facts about Pinterest. So, shall we?
Pinterest is a fastest growing company owned by Pinterest Inc. It was started in March 2010, by Silbermann, Evan Sharp and Paul Sciarra. Though Pinterest is called mostly as a social media service, it is unlike other sites Facebook or Instagram.
It allows people to share images, videos, or GIFs of creative ideas instead posting their personal stuff. In short, Pinterest is all about and a single platform for finding creative travel ideas, recipes, home decor inspirations etc. Most DIYers and youth spend a lot of time on this platform scrolling through their feed and exploring other interesting things.
The company was named in the list of unicorn companies as it is one of the fastest companies to grow their user base to 10 million (in just a span of 2 years from its launch).
Want to know how Pinterest makes money? Read it here
History of Pinterest
Ben Silbermann who cofounded Pinterest with his two friends was fond of collecting things from his childhood. In fact, it is clear that the company is his purely from his childhood inspirations. However, there are other things that fueled his idea and made them create the platform. Let’s look into that.
Inspired by his colleague Silbermann left his job at Google to develop some iPhone apps and products. They didn’t work well though. That is when he paired up with his college friend Paul Sciarra and tried out many other products. One of those is Tote, a shopping app. So, as Pinterest was not an overnight success, it is not their first product. However, their shopping app didn’t become viral, but that left them with many thoughts.
They observed that many users are using the app to select, save the product and share it to themselves to buy it later somewhere. Yes, you guessed that! That is when the founders realized that people need an easy platform to collect and save things for later.
Thus, in March 2010 Pinterest was launched. However, it had only 10,000 users after 9 months. The interesting thing is Silbermann used to reach out to customers directly, offer his phone number to reach and provide feedback. For almost one year, users had to join the platform with an invite request. Only a year later, the service is available for everyone.
More About Pinterest
Pinterst went public in April 2019 with an initial valuation of $10 billions under ticker PINS. Last year (in 2019), the company was valued at $3.96 billion.
Thus, after Pinterest has multiplied its popularity and user base, it even entered stocks and gained huge value. There were losses as well.
However, Silbermann, the CEO and the founder of Pinterest has a net worth of $1.6 billion according to Forbes.
Although Pinterest is a free platform for anyone above 13 years, it is not such a place where anyone can publish anything. The idea behind is to provide a place for people to find a vast range of ideas for their search.
Users can share or upload media to their boards as pins in the platform. Other users can also view and pin the pins to their boards if it is made public. Thus the platform is pretty easy to use. Today, it has over 416 million monthly active users worldwide. It has 96 million monthly active users in the U.S. Of all, over 79% of its users are female.
Each more than 200 billion pins are handled by Pinterest and what’s most interesting is the conversion rate on the platform is higher than other sites like Facebook or Instagram.
Want to know how Telegram makes money? Read its Business Model here
The platform later even introduced “Pinterest for business”, in which businesses or entrepreneurs can switch their personal accounts to business accounts or create new ones. With a huge conversion rate and active monthly users, the platform attracted advertisers to start ad campaigns. In fact, that is how Pinterest started generating revenue. Of course, this even attracted investors to invest in the company.
Bottom Line
As you see, you have learned about the owner of Pinterest and interesting facts about it in this article. Hope you liked it.
Like many successful startups, Pinterest has grown slowly to this position where over quarter of the world’s population know or use this service.
