Posted by alynagle
It was confirmed yesterday that Pinterest has raised over $100 million in investments by Rakuten (a Japanese e-commerce giant) to expand their company internationally. Rakuten hopes to make Pinterest a leading channel for e-commerce for its Japanese markets, and in turn bring legacy and credibility to the company. Recently, it has been posted on Pinterest’s blog that they are seeking translation for the site’s international presence in the following languages: Spanish, French, German, Portuguese, Japanese, Italian, Russian, and more. With this large investment, Pinterest is now valued at $1.5 billion, and this financial boost gives the social media company the ability to ease into new markets with great potential.
With the insane attention Pinterest has received since its start in 2010, it was inevitable that it would seek growth in international social spheres. The image-based social media site has grown exponentially compared to its competitors, and it is projected to account for 40% of all social media-driven purchases*. I looked deeply into the effect Pinterest has on e-commerce for my #NewhouseSM4 course, and I’ve come to find that Pinterest has made a bigger splash that it ever intended to. It has become the central digital hub for curation, commerce, and communication, and their large investments will hopefully bring about a strong business model and larger (and effective) growth.
This infographic shows the impact Pinterst has made on social commerce, and how it is predicted to grow (source: Mashable)
As someone who uses Pinterest (frequently), studied social commerce, and follows the social media industry, I hope to see growth from Pinterest. The two-year blow up hasn’t gone to Ben Silbermann’s head for personal or business matters (unlike other social media giants in the past), and the fact that Pinterest has still maintained a start-up environment and a lack of business model is refreshing. Let’s see how this one plays out.
Posted by alynagle
we have available and the social commerce industry. Our presentation made over 119,000 impressions with an audience of over 28,000 the moment it ended, and the hashtracking report grew more hours later. It was pretty cool to see how much of an impact our little class presentation made in the Twitter-sphere.