Pinterest is growing fast! Ahead of its planned IPO, the visual discovery platform has announced some very healthy user growth.
It’s much more of a discovery platform, as the S1 filing explains: “Most consumer internet companies are either tools (search, ecommerce) or media (newsfeeds, video, social networks). Pinterest is not a pure media channel, nor is it a pure utility. It’s a media-rich utility that satisfies both emotional and functional needs.”
And there are currently 265 million people who use it each month – close to 90 million more than Snapchat. Pinterest is growing pretty fast – 15 million MAUs were gained within Q4 2018, and 13 million of them outside the United States which has always been the platform’s main market. The platform gained a total of 51 million users in 2018 alone!
It’s also doing pretty well financially, halving annual net losses to $63 million in 2018, from $130 million in 2017. As opposed to many other social networks pre-IPO, Pinterest looks like it might actually be profitable soon. Let’s just remember that Snap is still losing money.
With a constant expansion of brand tools and ad products, it will be very interesting to see where Pinterest will be in the next few months to a year.
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