There has been a lot of talk about how Social platforms are becoming the next hot destination to advertise, with Facebook leading the race. However, a look at the numbers recently released by Pinterest is enough to remind you of the fact that there are others in the competition as well.
The company-issued figures which were made public for the first time this Wednesday, puts down the number of active monthly users to a massive 100 million.
While we have always known that Pinterest was popular, allowing users to share and categorize images — or the so-called “pins,” — online, which as often as not, belonged to stuff that they were looking to buy in the future (and hence the scope for business) the 100 million mark is bound to shed some new light on the enormous potential for advertisement that is available on the website.
The company is certainly aware of the fact that advertisements, also refered to as “Promoted Pins”, on its platform are likely to prove of great help to businesses and since the past 12 months, it has been ensuring that brands which make use of — or are looking to enter — the realm of virtual ads see it too, along with making the platform more ad-friendly.
The company has recently teamed up with fashion retailer Topshop to create a color palette tool based on saved pins and is also making sure that ads blend in with the rest of the content, similar to the native ads on Facebook, Twitter and Instagram.
While the timing of the 100-million figure may or may not have anything to do with the company’s desire to influence customers, you can bet that it is doing just that. After all, advertising is half about reach, and with the number of active users on Pinterest, companies with their ads on the platform wont really have much to complain about.
It’s probably safe to assume that Pinterest will be making sure that users interested in an item, will definitely be seeing ads related to that particular object, thus making both the advertiser — who gets his message across to a potential customer — as well as the user — who gets relevant options and quotes — happy.
Several media reports have also come in, that the company with its $11 Billion valuation may also be looking at an IPO in the near future.