Pinterest seeks to woo advertisers and international users as IPO looms
The visuals-sharing platform outlined its plan to amass revenue as it prepares to offer its stock to members of the public. It still faces stiff competition from other social media sites.
Pinterest is aiming attract future stockholders by convincing marketing partners it can help them pin big profits with consumers.
The visual social media platform recently filed with the Securities and Exchange Commission for its upcoming initial public offering, outlining its vision and plan to succeed against much bigger competitors.
Pinterest, which launched in 2010, primarily makes money by attracting advertisers to its platform, where users create boards in which they self-identify their interests and through which advertisers can try and sell them products. Pinterest says its more than 250 million monthly active users have created more than 4 billion boards with a cumulative 175 billion pins saved. The platform itself has processed more than 2 billion searches, many of which Pinterest attempts to process visually using machine learning-based methods like object and image recognition.
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