Pinterest is a visual discovery tool that people use to collect ideas for their different projects and interests. People create and share collections (called “boards”) of visual bookmarks (called “Pins”) that they use to do things like plan trips and projects, organize events or save articles and recipes. The site was founded by Ben Silbermann, Paul Sciarra and Evan Sharp. It is managed by Cold Brew Labs and funded by a small group of entrepreneurs and investors.
Pinterest also allows businesses to create pages aimed at promoting their businesses online. Such pages can serve as a "virtual storefront". In one case study of a fashion website, users visiting from Pinterest spent $180 compared with $85 spent from users coming from Facebook. These users spent less time on the company's website, choosing instead to browse from the company's pinboard. Further brand studies have continued to show Pinterest is more effective at driving sales than other forms of social media. In 2013, Pinterest introduced a new tool called 'Rich Pins', to enhance the customer experience when browsing through pins made by companies. Business pages can include prices of products, ratings of movies or ingredients for recipes.
In May 2012, Pinterest was valued at $1.5 billion. In February 2013, it was valued at $2.5 billion. In October 2013, it was valued at $3.8 billion.
The following is a link to my pinterest account where I have started to follow interest that I have, particularly links like the following which will hopefully prove to be true, Ways for businesses to make money through social media. There will hopefully good things for future assignments and interesting articles for this module too.
And a relevant picture shared via my blogger account
Here is a link to an interesting article on using Pinterest with your business.
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