While the pandemic may have brought misery to many areas of the world, there is one social platform that has seen the best results out of it. Pinterest is a renowned social platform where users come together to exhibit their talent through pins or extensions to the websites where they wish to direct their audience. It is imperative for companies that facilitate virtual interaction between businesses and customers to keep a record of their user growth as it strongly impacts their revenue. AS for Pinterest, the company saw a whopping increase in its user growth amid pandemic as 459 million monthly users were recorded in the fourth quarter.
Platforms like Google, Youtube, Facebook, and many others also observed an increase in their revenues as more and more people decided to switch to digital interaction during the isolation period. The demographics clearly show a massive surge in the revenue of the company, that too in the United States, to be $582 million leading to a total of $706 million in just a year.
The reason for such a major surge in the number of users and revenue happens to be the Ad spending, which Pinterest uses on pins to make money. The pandemic has surprisingly caused many people to upgrade their social interaction through social platforms, which ultimately led them to register for Pinterest, hence the raise in the bar.
The latest news has spread a smile of happiness on the faces of people behind the million-dollar company, as reflected by the Chief Executive Officer and co-founder of Pinterest, Ben Silbermann:
“We welcomed over 100 million additional monthly active users to Pinterest in 2020, more than any other year in our history”