Pinterest tests do-it-yourself tool for ads

Jun 05, 2014 by Glenn Chapman
Pinterest on Thursday began dabbling with ramping up ad revenue by letting marketers promote their own "pins" at the popular online bulletin board venue

Pinterest on Thursday began dabbling with ramping up ad revenue by letting marketers promote their own "pins" at the popular online bulletin board venue.

The startup added do-it-yourself promoted pins, expanding a test of serving up ads in the form of Pinterest posts prominently displayed on search or category pages.

Pinterest also began providing businesses with improved analytics regarding how much interest pins generate and how profile pages are doing.

"Businesses are an important part of what makes Pinterest work," product manager Jason Costa said in a blog post.

Pinterest recently began letting ads be posted in the form of promoted pins.

Self-serve holds promise

Facebook and Twitter both bring in money from ads in the form of posts "promoted" to prominent positions in streams of updates at the social networks.

"Self-serve has proven very lucrative for Facebook, but less so for Twitter because they have taken it a lot more slowly," eMarketer social media analyst Debra Aho Williamson said in a release.

"Pinterest has a lot of potential to grow this side of its business."

Pinterest last month confirmed that another $200 million has been pumped into its coffers to build up search capabilities at the booming, bulletin board-style social network.

The latest round brings to $764 million the total amount of funding raised by the San Francisco-based start-up and gave Pinterest an overall value of $5 billion.

Discovering pins

Uses for the money were to include paying for technology and talent to develop Pinterest into a "discovery platform" in a potential challenge to Internet search king Google.

Pinterest in April launched a tool to help people quickly sift through the roughly 30 billion pins on the service's online bulletin boards to find what they like.

In a move similar to one made last year by Facebook, Pinterest is tapping into its rich trove of user-posted content to tackle questions that traditional search engines such as Google or Bing handle less well.

The company has not disclosed the number of users, although estimates from digital analytics firm comScore put the figure at around 60 million.

There are more than 750 million online bulletin boards with a combined total of about 30 billion Pins hand-picked by people sharing images on myriad interests from travel to food to sports and more, according to Pinterest.

Pinterest is currently available in 31 countries and reported that about 30 percent of its users are outside the United States.

Pinterest has become one of the Internet's hottest young websites, particularly among women, by giving people virtual bulletin boards that they personally curate with pictures showcasing interests in anything from food to sports, fashion or travel.

Just shy of 35 million Pinterest users accessed the website monthly in the United States last year and that figure was expected to top 40 million this year, according to industry tracker eMarketer.

Advertising on social networks in the United States surged 46.2 percent to hit $4.54 billion last year, with Facebook taking a lion's share of 72 percent of the revenue while 9.2 percent went to Twitter, eMarketer estimated.

Explore further: Pinterest valued at $5 bn after fresh funding

add to favorites email to friend print save as pdf

Related Stories

Pinterest valued at $5 bn after fresh funding

May 16, 2014

Pinterest on Friday confirmed that another $200 million has been pumped into its coffers to build up search capabilities at the booming, bulletin board-style social network.

Pinterest launches location-based pins

Nov 21, 2013

Pinterest, the online pinboard for sharing everything from wedding china ideas to travel inspiration, is now letting users add location to their pins.

Pinterest moves to conquer French

Jun 11, 2013

Pinterest said Tuesday it was launching a new "localized" version of the bulletin-board style social media site for French users.

Recommended for you

US warns retailers on data-stealing malware

5 hours ago

US government cybersecurity watchdogs warned retailers Thursday about malware being circulated that allows hackers to get into computer networks and steal customer data.

Irish bookmaker apologizes for 2010 data breach

6 hours ago

(AP)—Irish betting company Paddy Power announced Thursday it is notifying hundreds of thousands of customers that most of their profile information was stolen in 2010, but hackers did not gain their credit card details ...

Misinformation diffusing online

9 hours ago

The spread of misinformation through online social networks is becoming an increasingly worrying problem. Researchers in India have now modeled how such fictions and diffuse through those networks. They described details ...

User comments : 0