Pinterest, Inc.

Pinterest, Inc. is an American social media web and mobile application company. It operates as a visual discovery engine, allowing its users to discover, share and save images, video content, and other objects. Founded in December 2008 and launched in 2010, it is a platform for users to organize and share ideas, recipes, style and other images from around the world. The company’s mission is to “help people to discover the world around them, one pin at a time”.

Pinterest has become one of the world’s most popular social media networks. As of May 2020, it had 400 million monthly active users, making it the 7th largest social network in the world. In 2019, Pinterest had generated revenue of $1.52 billion through advertising and other sources. The company had also hired over 1,200 employees as of April 2020.

The visual discovery engine of the platform makes it different from other social networks. It offers a personalised experience to its users, wherein the algorithm shows visual machine learning recommendations based on individual pinners tastes and interests. Users are able to select topics they are interested in and the platform provides customised content for them. This makes the platform a great source of inspiration for users.

The company recently announced that it had launched a new feature called “Lens Your Look”, which allows users to use their phone cameras to curate their Pinterest boards based on a photo they’ve taken. This feature is powered by the latest artificial intelligence technology, making it easier for users to find objects around them that fit their taste.

The company has also recently entered into a partnership with Amazon, which allows shoppers to buy products directly from Pinterest. This has enabled Pinterest users to shop while they are on the platform, thus providing a convenient and easy way to purchase items.

In July 2020, Pinterest acquired the content recommendation platform Elasticsearch, which the company hopes will help improve the accuracy of the visual discovery engine, as well as make shopping easier for users. This acquisition could provide a significantly better user experience for existing and new users.

Pinterest has also recently launched its ‘Shopping Ads’ feature. This feature enables brands to advertise their products directly to users on the platform, which provides brands with more unique ways to target and engage with customers.

The company also announced its new ‘Shop the Look’ feature, which allows users to shop directly from the product pages they view. This feature has the potential to make shopping on the platform even easier and more convenient. Additionally, Pinterest has also acquired the ‘Honey’ shopping assistant app, which allows users to save money while they shop.

Apart from providing revenue through advertising and other sources, the company also makes money through partnerships. For example, in October 2020, Pinterest announced a partnership with the home-goods e-commerce website, Wayfair. This partnership gives Pinterest users access to Wayfair’s catalogue of products and discounts, making it easier for them to shop for furniture, home decor, and more.

Ultimately, Pinterest is continuing to grow and innovate its social network, and is positioning itself to gain more traction and become an even bigger player in the social media space.