By now, we hope all of you have heard of (if not utilized) the online pin-board affectionately coined “Pinterest.” This social media outlet is used to “pin,” or save images, links, and anything else to an organized location [board] to later peruse again. Users can pin anything from fashion to recipes to fitness tips.
The relatively new social media site launched in March of 2010, and since has seen rapid growth in consumption. As of this past December, the user base has reached an impressive 48 million. They’ve also gone from a mere 20 employees to an impressive 100 in just two years.
With that kind of growth, Pinterest can really start focusing on revenue now. “Now Pinterest has reached a point where it can start to make revenue a priority,” the Wall Street Journal says. “The company is now studying a potential advertising system. It is also building up its relationships with businesses to learn how Pinterest traffic can eventually convert to sales of goods, from which the start-up may eventually be able to take a cut.”
And focus they have. According to the L.A. Times, “Pinterest reportedly is talking about raising funding to a $2-billion to $2.5-billion valuation, making it one of the most highly prized young start-ups to come out of the Bay Area in recent years.”
To put this in perspective, this past May, Facebook was valued at anywhere between $96 and $100 billion. With Pinterest’s rocket-speed growth, is a mere $2.5 billion that much to ask?
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