Why The Pinterest Interest?

POSTED: Monday, March 12, 2012 - 8:01am

UPDATED: Monday, March 12, 2012 - 8:05am

Just when you thought Facebook had cornered the social media market...along comes a new site that millions have already "pinned" an interest in.

Pinterest is the fastest growing social network you might not have heard of.

Pinterest is a social photo-sharing website, a digital pinning board, where for now, two-thirds of the visitors are women.

"Think of it as a book marking site where you're book marking images and sharing your interest with people," explains Scott Monty, director of social media for Ford Motor Company.

It has captured the attention of millions, and because it can generate conversation about products business and Wall Street are watching, too.

"For the month of February they had over 100 million total visits from consumers," notes Simon Bradstock of Experian Marketing Services. "This is a site that continues to see phenomenal growth over the last few months."

Although the site's mission statement is to "connect everyone in the world through the 'things' they find interesting" it clearly has huge word of mouth advertising potential.

"If I say 'Wow, this is the greatest pizza I ever had and I put up a picture of a pizza, whether I took it or it comes off the restaurant website, I kind of told you the whole story right there," explains CNET.com's Brian Cooley.

If only it were that simple for the founders of Pinterest to make money.

The company operates the website in California with sixteen employees, virtually no revenue and, therefore, no profit.

That's a picture that might change, though, if millions continue flocking to the site.
 

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