Pinterest is growing fast! Ahead of its planned IPO, the visual discovery platform has announced some very healthy user growth.
Pinterest filed for an IPO late last month, and that gave us all a better look at its platform’s numbers – both in terms of users and its financial situation. However, the updated S1 filing also gives us an idea of where Pinterest positions itself among other social platforms. Strictly speaking, Pinterest is neither a social network, a pure media channel, or a utility.
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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