. The New York Stock Exchange on Thursday under the stock symbol PINS. The stock rose 28.4% during the day, with a market capitalization of nearly $ 13 billion.
As a result of the company's IPO, President Ben Silbermann told CNBC that Pinterest was less interested in becoming a platform where users could talk. every day to friends or celebrities and sees itself more like a utility.
"I think we can do it as a platform of inspiration. We do not claim to be a free speech platform or a place where everyone can publish, "said Silbermann." What's really cool with advertising on Pinterest is that people are there to find inspiration and do things. This often means that you have to buy. "
Advertisers should arrive early. January Digital CEO Vic Drabicky says Pinterest offers a huge revenue opportunity. Advertisers are eager for new channels and methods to diversify their ad spend.
"The platform is about to build its advertising model. If they continue to develop the right technological stack, their growth will be exponential, "Drabicky said. We are already seeing our customers making this change and the IPO will only create more opportunities for Pinterest as a brand.
Drabicky recommends that CMOs enter early, while costs remain low and learning opportunities are high.
"This is an excellent environment As an agency, we always advise customers to book 30% of the trial budget, "said Drabicky." This is particularly the case with Pinterest, because the tests with Pinterest have two advantages: 1 The tests allow a brand to push the boundaries and 2. The tests put the marks on the door with Pinterest before the costs increase in the big environment (Amazon, Google, Facebook). "
The 4C WTO reports a sharp increase in advertising spending on Pinterest. "We have seen a three-digit increase in spending over the previous year. for Pinterest advertisers using the platform Scope by 4C, "said Aaron Goldman, marketing director of 4C," We are planning a continuation of investment in advertising offerings and geographical expansion.
Goldman believes that Pinterest plays an important role in media composition by helping brands reach audiences at key moments in their inspiration.
"While other channels specialize in promoting brand awareness response buying activity, Pinterest generates results on the entire marketing funnel. "
Why we should care. Now that it's a public company, Pinterest is committed to generating revenue by investing even more effort and resources in developing its advertising platform and offering more options e-commerce to advertisers.
Silbermann told CNBC focuses on developing the company's global presence and creating a place where businesses can reach their target audiences.
"In the last two years and in the near future, we will work to bridge this gap between seeing something inspiring and finding a product from a retailer you trust in a reasonable price, said the CEO.
In recognition of its e-commerce goals, Pinterest recently hired former Walmart Chief Technology Officer Jeremy King. as new head of engineering. After leading the technology teams at Walmart and eBay, King brings to Pinterest considerable experience in the field of e-commerce technology.
About the Author
Amy Gesenhues is the editor of the General Assignment of Third Door Media, which presents the latest news and updates for Marketing Land and Search Engine Land. From 2009 to 2012, she was an award-winning columnist in several dailies from New York to Texas. With over ten years of experience in marketing management, she has contributed to various traditional and online publications, including MarketingProfs.com, SoftwareCEO.com and Sales and Marketing Management Magazine. Read more articles from Amy.