Pinterest Is a $7.7 Billion Company
NEW YORK (TheStreet) -- Facebook values Instagram at $1 billion and LinkedIn(LNKD) has a market cap of $10 billion.
Twitter claims it is worth $8 billion. So where does that leave the new kid on the block Pinterest? Well, it looks like you can pin $7.7 billion on your Pinterest board.
Pinterest is important because the traffic is growing and statistics are impressive. It is known for its magazine quality images. Pinterest is to artful images what Twitter is to artful words. What's more, Pinterest appeals to college-educated females between the ages of 25 to 44. A sweet demographic known for its spending decisions and habits.
Maximize Social Media held a webinar earlier this week because they too acknowledge the growing importance of this site. Maximize Social Media President Mike McLaughlin said, "Pinterest has been on our radar for some time."
The average Pinterest user is on 89 minutes a month while an average Twitter user is on 21 minutes a month. Pinterest can impact a user's website traffic and increase sales - particularly if you are selling things that define a lifestyle or are aspirational. Whole Foods Markets(WFM) has been very successful with its Pinterest board. Pictures of the stores, recipes, stunning pictures of food and comments from people. It's more visually appealing than Facebook.
According to the scoreboard from Experian Hitwise data from March 2012, Pinterest is the third most popular social media platform in the United States. It is running close behind Twitter in the number of total visits. Facebook is the big beast at seven billion total visits, Twitter while very far behind, is logging 182 million visits. Pinterest is next with 104 million and gaining quickly.
Pinterest has blown by Google+, which only has 61 million visits for the same time period. Consider how much money Google(GOOG) has spent on Google+ and this growth is all the more astounding. Its integration with Facebook has helped fuel this growth.