Pinterest’s model — a photo-centric online bookmarking tool — doesn’t feel particularly groundbreaking, which is why some people find its monumental success a little hard to believe. But in 2015, Pinterest received an $11 billion valuation, making it one of the most valuable companies in the world in the eyes of venture capitalists.
Investors aren’t the only ones who see Pinterest as a goldmine. Advertisers and retailers are drawn to the platform, which offers rare insights into consumer desires. Pinterest is, after all, a composite of millions and millions of wishlists, just waiting to be fulfilled.
For consumers, the magic is in Pinterest’s uncomplicated, organized visual interface. Simply put, it’s easy and fun to use.
Pinterest can also be personalized in more ways than the novice pinner might expect. On this week’s episode of Generation App, incoming college student Hannah Berg, GeekWire marketing coordinator Cara Kuhlman and I share some of the surprising applications we’ve found for Pinterest with Todd Bishop, GeekWire’s co-founder and resident Generation App skeptic.
- Advertisers and investors are bullish about Pinterest’s unique advantages and the new technology the company is developing.
- Women, a coveted demographic for advertisers, make up the majority of Pinterest’s user-base.
- For users, Pinterest has many different applications to fit different personalities and interests.
- Pinterest, like Facebook, is subject to algorithm problems. Some users feel pigeonholed by the platform’s suggestions and want more variety.