The media reports that Google and Pinterest are currently testing collaboration in the sphere of advertising.
Piper Sandler analysts said last Tuesday, March 26, that they had spotted ad units indicating the mentioned collaboration. There is also information that the code suggests that ad units could be related to a search or may use audience data to retarget Pinterest users. The previous time the tech giant’s promotional materials were seen on Pinterest was in February last year.
This is not the end of the information about potential cooperation, which has not yet been officially confirmed. Piper Sandler’s note underlined that Google’s ad units were seen as supplementing Pinterest’s international business. This means that potential cooperation is not limited to the United States market. There is also evidence that in this case, a more rapid deployment of interaction is envisaged than Pinterest’s collaboration with Amazon, which, according to preliminary data, took from six to nine months.
Pinterest signed an agreement with Amazon Ads in April last year. This deal is a multi-year one. This is the first time Pinterest has had a third-party advertising partner. Last year, the company said that more than 463 million people visit its online platform every month to create a life they love. It was also noted at the time that brands and partners are an important part of this journey, allowing developers to easily move from inspiration to action, and advertisers to realize the value of communicating with users with high commercial intentions. Pinterest said the collaboration with Amazon will significantly expand these efforts.
Also last April, Pinterest revenue director Bill Watkins said that shopping advertising catalogs for purchases are the fastest-growing source of earnings for the company. He also stated that the firm is adjusting its retail strategy as advertising has become the main revenue stream. Pinterest is investing in technologies that will provide the best shopping experience for merchants already interacting with the company’s virtual platform.
Currently, 43% of consumers in the United States are browsing for goods and services on social media. It is also known that 14% of them end up making purchases.
Pinterest is a social web service for creating photo and video collections. The company was founded by Ben Silbermann in 2010. The firm is based in San Francisco. The main purpose of the company is to help users find ideas for creativity, fashion, cooking, home decor, etc. Pinterest was originally a kind of development of the functions of the Tote program developed by Ben Silbermann and Paul Sciarra in 2009. The service was positioned as a virtual alternative to paper shopping catalogs. In 2020, the company’s market value reached $20.7 billion. In 2021, the firm acquired the Vochi video editing and creation app.
In January 2023, at CES, Pinterest announced a partnership with LiveRamp, a data enablement platform. As a result of the implementation of this deal, the company’s partners can use third-party data for personalized advertising.
As we have reported earlier, Pinterest Reports Earnings.
