Everyone’s go-to visual planning tool, Pinterest – is expecting revenue to increase in 2017.
Pinterest, with it’s $11B valuation and $300M 2016 revenue under its belt, is pushing for a $500-$600M revenue in 2017. The online visual pin board tool, which allows users (“pinners”) to “pin” items, pictures, websites, recipes, travel destinations and much more to categorized boards has already raised $1B in venture funding from top venture capital investors including Andreessen Horowitz, Goldman Sachs, and Fidelity.
While Pinterest is still relatively new, (it’s only in its 3rd year of advertising) the company has more than 150M active monthly users, up 50M in the last 12 months. A favorite among women – over half of U.S. women between the ages of 18-54 have signed up for Pinterest, the company has also seen growth in the number of males who are signing up for the site.
But Pinterest stands out from other social apps in that it is less people-focused and more about content and ideas. Planning your next vacation? Search up travel boards from world-travellers on Pinterest. Needing a last-minute recipe idea? Browse the thousands of recipes pinned online. It’s less about self-promotion and real-time updates, as it is about spending time searching, planning, categorizing and pinning ideas, products, websites and more.
While the company isn’t necessarily thinking of IPO-ing in the near future, they are currently building the business and putting the pieces in place to continue to grow. The company hired its first CFO, Todd Morgenfeld, from Twitter in October of last year, and has Facebook’s former monetization director, Tim Kendall, overseeing all of Pinterest’s revenue efforts.
InvestX currently has an exclusive, limited US $1M block of Pinterest shares available to accredited investors. If you are interested, visit our deal page at www.investx.com/deals/pinterest to express an interest.