Watch Out Facebook, Twitter: Pinterest May Be an Advertiser’s Dream
Tech writers are beginning to pick up on what mommy bloggers and hipster stylists may have known all along: Pinterest is valuable. A steady rise in popularity along with several new innovations by Pinterest may mean that the oft-overlooked social networking site isn’t as far behind larger competitors like Facebook (NASDAQ:FB), Twitter (NYSE:TWTR), and Instagram as was previously thought.
New York Magazine reports that Pinterest users, unlike those on other social networking sites, are overwhelmingly female (women are about four times more likely to use Pinterest than men) and by and large call the middle of the country, a swath devoid of tech industry hubs, home.
Pinterest knows what it’s good at, and with some recent updates, the company is hoping to encourage users to branch out and use Pinterest more as a source of inspiration than as a place to curate collections of “bundt cake recipes and artfully torn jeans,” according to an April report from the San Francisco Chronicle.
And while it’s easy to dismiss Pinterest as a social networking site for stay-at-home moms and bridezillas, it’s harder to dismiss the numbers: Pinterest now has 30 billion pins, and New York Magazine reports that half of those have been added to the site in the last six months alone. If that weren’t impressive enough, the site now drives more traffic than Twitter and Reddit combined — that’s well worth taking note of.