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2 comments   Listen   Print   article:326963:22::0
In the Media

article imageFollow, like, go viral or pin on Pinterest - worth $1.5 billion

People spend trillions of minutes and view trillions of pages on the Internet monthly. What’s the latest biggest attraction - Twitter? Facebook? YouTube? No, the social image pinning site, Pinterest, launched 2009 and valued at over $1 billion.
According to comScore, the total Internet population worldwide spent 2.2 trillion minutes online and viewed 3.5 trillion pages in the month of March 2012 alone. Grabbing chunks of user time and clicks is Pinterest receiving around 5 million monthly visitors. Using comScore data, techcrunch reports that when calculating both unique visitors and clicks from search engines, Pinterest was the fastest-growing social network in the last 12 months, with an annual growth of over 4000% (four thousand percent) between May 2011 and May 2012.
Other established social networking sites are reported as showing continued growth: Twitter 58%, LinkedIn 67%, Tumblr 168%, and Facebook 4% but they are not in the same league as Ben Silbermann’s scrapbooking start-up, which, according to the Wall Street Journal at the beginning of May raised $100 million in capital at a $1.5 billion valuation despite having little revenue and no profits.
The social media bandwagon
Illustration by Matt Hamm
The social media bandwagon
image:58351:6::0
Also, as comScore note, if you are looking at volume of traffic, Pinterest has become more popular than LinkedIn, Instagram, and Google+.
Search Engine Watch have their eye on Pinterest watching and report that men are also becoming more interested in pinning realising that it this not just a girlie pin-board site. In September 2011, 74 percent of the user base on Pinterest was female and 25 percent of the gender was male. According to comScore, March 2012 figures showed that 65 percent of the base is female, and 35 percent male. Also, the number of ‘older’ users is growing since the 35-54 age range has increased five percent from 33% in September 2011 to just over 38% by March 2012.
What is interesting about Pinterest is the amount of time people spend on the site. comScore note approximately an hour and a half over the course of the month and more than 15 minutes per visit, ranking it third on consumer engagement. Visitors also buy more items and conduct more transactions online than other social media buyers.
An illustration of the ubiquity of social media
Rosaura Ochua
An illustration of the ubiquity of social media
image:100193:4::0
Pinterest it appears is not just an online pin-board site popular amongst teenagers who collect, group and categorise their wants, desires and interests, As CBS local news reports, businesses are viewing these online scrapbooks as marketing tools to connect people with their products and drive traffic back to their websites, American Airlines, RadioShack The Gap, West Elm use Pinterest too.
Read more from Digital Journal about PInterest.
article:326963:22::0
More about pinterest, Social media, Social media network
 
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