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| VIEW EVENT INFORMATION: Pinterest |
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Pinterest Hits 150M Monthly Users |
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About the organization Pinterest:
Type: Business
Sub-Types: Website, Picture Hosting Agent, Social Networking Agent, GIF Hosting, GIF Sharing, Internet, Application Software, Telecommunication, Telecommunication Software |
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Notable Organizations: Pinterest, Techcrunch
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| Today, Pinterest said it hit 150 million monthly active users, up from the 100 million it announced in September 2015.
However, as TechCrunch previously reported, Pinterest in 2015 was targeting that it would hit 151 million monthly active users by the end of 2015. We reported the story in October last year, and the information was used by Andreessen Horowitz to solicit limited partners to invest in a special investment fund for Pinterest earlier in the year.
With Pinterest growing by half this year, it looks like it may miss on its 2016 projections that it set earlier last year as well. Leaked documents reviewed by TechCrunch at the time also projected that Pinterest would end 2016 at 218 million monthly active users. The Wall Street Journal today also reported the company is expected to triple last year’s revenue to $300 million in 2016. That, too, falls below projected estimates of $663 million for 2016 from those leaked documents.
Again, these projections came in early 2015, and companies are constantly revising them as the years progress. Pinterest CEO Ben Silbermann, in response to those projections, told The Wall Street Journal that “there were some early projections when we were just a couple months into building the business, but we’ve learned more about it.”
“Start up life is dynamic, and years old projections aren’t particularly relevant to where companies are today,” Andreessen-Horowitz partner Jeff Jordan, who is on Pinterest’s board, told TechCrunch. “We’re thrilled with Pinterest’s performance — strong continued user growth, best-in-class user engagement, and an increasingly robust platform for advertisers that’s leading to rapidly expanding revenue. We’re very excited about what’s to come.”
Revenue of $100 million for 2015, and potentially $300 million for 2016, are enviable numbers for a consumer ad-driven startup that’s only 7 years old. This isn’t really a reflection of poor performance for Pinterest, it would seem — just that the expectations may have been set a little high. Many startups are sometimes valued, to some extent, at a multiple of next year’s revenue. While Pinterest’s valuation is likely also relative to the latent pent-up marketing and user demand, as well as its growth and overhead, it would still seem the company needed to reset its expectations. |
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