After failing on Tote, an iPhone shopping app in 2008, CEO and co-founder Ben Silbermann ventured on another app that will take the world by storm in the coming years. Pinterest was introduced in March 2010 by co-founders Ben Silbermann and his good friends, Paul Sciarra and Evan Sharp.
Back in 2008, online shopping is not in high demand, and Silbermann noticed that app users tend to save photos that interest them and save them for later purchase. Users do not purchase right away. Not long after that, Tote shut down, and Silbermann came up with Pinterest.
As a collector of stamps and insects himself during childhood, Silbermann thought of crafting a platform that will enable users to “pin” or find inspiration from images. Before its launching in March 2010, Pinterest was tested via private beta, restricted to limited individuals for the sole purpose of testing. Finally, in 2010, it reached a larger group as it was released in an invite-only beta wherein signing up is only via invitation basis.
Fast forward, Pinterest attracted a massive number of users, particularly 70 percent of female audiences. Nine months after its launching in 2010, Pinterest has reached 10,000 users.
Early Milestones of Pinterest
- Pinterest’s very first pin is a papercut image of a couple kissing while on a bicycle. The caption says, “I thought this was a perfect idea for a valentine’s gift. Very cool!”
- In 2011, TIME magazine dubbed Pinterest as one of the 50 best websites. It has remarkably brought more traffic than YouTube, LinkedIn, and google plus.
- A year after being launched, Pinterest reached 10 million users, and Pinterest was also regarded being one of the ten giant sites of 2011.
- In April 2019, Pinterest went public with a ticker “PINS” and a valuation of $10 billion dollars in the stock market. It ended at almost $13 billion on that same day.
You might like: