Pinterest: Company Analysis Essay

2021-06-08 12:31:45
4 pages
929 words
University/College: 
Wesleyan University
Type of paper: 
Essay
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Pinterest gets construed as a website in the social media that enables the users to create, arrange and share pictures and videos on the social media platform. Particularly applicable to the web. The pictures or images which get uploaded are referred to as the pins and may, therefore, get organized by the Pinterest into the pin boards. These pin boards then get customized, given various themes and followed by the users of the web. The paper, therefore, gets founded on the person who invented Pinterest and its worth.

Pinterest got invented in 2009 by Ben Silbermann, Paul Sciarra and Evan Sharp with its first prototype launched in March 2010 (Cario and Jennifer, 2). Ben Silbermann is described as the person who holds the vision of the company's product. He also gets noted the company's business leader for the most of the years which the company amounted huge returns regarding profits. One of the investors of Pinterest once referred to him as a private individual, somehow mild mannered and nerdy and a bit awkward in matters socializing. Others describe him as somebody who believes in actions but not empty words. In most of his communications about the business, he is usually noted to take points down after which he makes his analysis that will fit the business need. It also gets noted that he grew up from the family of doctors and thought he would be one. He equally looked up to people like Walt Disney, George Eastman, and Steve Jobs but did not identify himself with any of them. The company's success is owed to his way of operation and management.

Another co-founder of Pinterest gets noted as Paul Sciarra as depicted earlier. He is described as bigger in both stature and personality. He quit his job at the New York Venture capital firm and joined his colleague Ben Silbermann in creating the company. At the onset of founding Pinterest, the role played by Sciarra was based on raising capital and his California home to be used as the first company office (Carr and Kelby, 3). At that time, the company had a different name called Cold Brew Lab. The last person is Evan Sharp who joined later when the idea of starting the company had been initiated.

On the other hand, based on the sound management of Ben Silbermann and the success the company acquired, Pinterest gets estimated to value $ 5 billion. The mentioned gets depicted on the latest amount of $ 200 million that the company raised taking its net worth to that height. The justification for its worth gets noted on its users sticking to the idea of networking and increasing how they use the service over time (Hayden and Beth, 5). As mentioned in the introductory paragraph, the users upload pins or pictures to their pin boards and re- pins the images to other users who goes further to repeat the process of re- pinning the images. The social network can, therefore, get described as aspirational to its users as opposed to its competitors.

According to the research done by Market Research Company RJMetrics, it got realized that DIY and crafts, food and home decor are the largest categories of products that people pins. Another issue that justifies the $ 5 billion net worth gets based on the recently released place pins. The pins enable users to draw a plan and formulate a track of their holidays. It gets noted that as of April 2014, above 70 million of Pinterest users made uploads of pins exceeding 30 billion and also created at least 750 million boards(Leland and Karen, 7) The 30 billion uploads marked a fifty percent increment from the last statistics of the company. Pinterest also works under e- commerce which many financial experts have believed to be the reason for its immense growth.

Additionally, some people argue that when an individual signs up on Pinterest, the person is likely to get hooked up. There is also the RJMetric data and graphs which the company keeps to get updated with their users' information and their performance with regards to pinning (Miles, Jason and Lacey, 10). The mentioned has enabled the company to connect with its users and ensure that they pin regularly. Another issue that makes Pinterest worth at $ 5 billion can also get argued on its brand. The company gets noted to own one of the naturally flourishing brands in the environment of social networking. The brand enables it to sell favorably and compete well with Twitter, Facebook and other social media platforms which may also be dealing in similar products.

Conclusion

In summary, Pinterest was first founded as Cold Brew Labs, and when the idea failed to work, Ben Silbermann took a few staffs and worked on an idea that brought Pinterest into the picture. As noted in the paper, its primary founders are Ben Silbermann who also gets described as the vision holder, Evan Sharp and finally Paul Sciarra. Currently, the company's net worth is estimated at $ 5 billion, and the value is expected to go up due to the immense innovations that the company has put in place.

Works Cited

Cario, Jennifer E. Pinterest Marketing: An Hour a Day. Indianapolis, Ind: John Wiley and Sons, 2013. Internet resource.

Carr, Kelby. Pinterest for Dummies. Hoboken: John Wiley & Sons, 2012. Internet resource.

Hayden, Beth. Pinfluence: The Complete Guide to Marketing Your Business with Pinterest. Hoboken, New Jersey: John Wiley & Sons, Inc, 2012. Internet resource

Leland, Karen. Ultimate Guide to Pinterest for Business. Irvine: Entrepreneur Press, 2013. Internet resource.

Miles, Jason, and Karen Lacey. Pinterest Power: Market Your Business, Sell Your Product, and Build Your Brand on the World's Hottest Social Network. New York: McGraw-Hill, 2013. Print.

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