Pinterest has announced that, starting in January, their "promoted pins" will be available for all US businesses to buy. Tim Kendall, Pinterest's Monetisation Chief, recently commented that "the business is scaling very rapidly" to compete with social media sites such as Facebook, Twitter, Instagram and Snapchat, especially on mobile devices. Pinterest has also made its first move into video advertising with "cinematic pins". The company says it plans to use the money from these ads "to help us grow our user base by making more of your favourite pins visible across a wider range of devices". According to the Wall Street Journal, Pinterest's projected revenue for 2018 is $3bn. "I have not yet clicked on a promoted pin," he said. As previously reported, Pinterest is trying to gain a share of the search advertising market, as advertisers spent around $26.5bn on US search ads this year, compared to $10.4bn on social media.
Pinterest has announced that, starting in January, their "promoted pins" will be available for all US businesses to buy. Tim Kendall, Pinterest's Monetisation Chief, recently commented that "the business is scaling very rapidly" to compete with social media sites such as Facebook, Twitter, Instagram and Snapchat, especially on mobile devices. Pinterest has also made its first move into video advertising with "cinematic pins". The company says it plans to use the money from these ads "to help us grow our user base by making more of your favourite pins visible across a wider range of devices". According to the Wall Street Journal, Pinterest's projected revenue for 2018 is $3bn. As previously reported, Pinterest is trying to gain a share of the search advertising market, as advertisers spent around $26.5bn on US search ads this year, compared to $10.4bn on social media.