The company, aiming to increase advertising revenue, has signed a long-term advertising deal with Google. In a comprehensive announcement made at the end-of-year meeting, it was stated that this agreement is hoped to be a successful collaboration for both parties.
Not the first deal made by Pinterest
The company, which primarily relies on advertising for its revenue model, previously made headlines with a long-term advertising agreement with Amazon last year. Despite achieving a revenue of $981 million last year, marking a 12% growth, Pinterest fell significantly below expectations. The platform’s monthly active user count increased by 11% to reach 498 million.
Following the company’s underperformance, the stock value, which dropped by 28%, began to rise after CEO Bill Ready announced the collaboration with Google. This situation indicates the significant profit potential that could result from the collaboration between Pinterest and Google.
Pinterest released a new application called Shuffles. It is available for iOS users only. Here are the details.
Additionally, CEO Ready stated that they would introduce new features to the platform using the latest artificial intelligence technologies. One of these features is claimed to enhance the visual search experience for users through artificial intelligence and provide more accurate search results.
Shiftdelete.netWhat do you think about this issue? Do you think Pinterest’s future is bright? You can easily share your answers with us in the comments section below. Your opinions are valuable to us.
