Visual search giant Pinterest has revealed that it is being used by 250 million people each month as it quietly continues to grow and other social networks slightly falter.
“At a time when the Internet can feel increasingly negative and politicised, we think it’s remarkable that a quarter of a billion people are choosing to spend their time on Pinterest, a place that helps them feel positive and optimistic about the future,” the company wrote in a blog post late on Monday.
Over half of the users on the platform and 80 percent of new signups are from outside the US.
“There are now more than 175 billion Pins to explore on Pinterest – up 75 percent since early last year. People have been saving all kinds of different ideas here, like products they love (+115 percent), style ideas (+38 percent), art (+50 percent) and DIY projects to try (+35 percent),” the company added.
The visual search major has secured more than $1 billion in venture capital funding, most recently raising $150 million at a $12.3 billion(roughly Rs. 90,000 crores) valuation, according to TechCrunch.
Pinterest is reportedly looking at a mid-2019 Initial Public Offering (IPO) and expects to reach $1 billion (roughly Rs. 7,200 crores) in annual revenue for the first time.