San Francisco based Pinterest, which allows web browsers to create virtual pinboards, is now eyeing India and South East Asian countries for international expansion. Currently, Pinterest boasts approximately 250 million monthly active users, but half of these active users come from outside the U.S. market.
The huge international traction has forced the company to keep pushing for expansion in foreign countries.
Pinterest’s co-founder Evan Sharp told a popular business daily that after focusing on South America, Western Europe and Japan during last few years, the company is now increasingly looking towards Southeast Asia and India as well as other foreign markets where it doesn’t have formidable presence.
Although Sharp refused to share any specific plans, he assured that the company will be sharing more information about India and Southeast Asia in next 12 months.
It is not that Pinterest has absolutely zero presence in India. The platform has a pretty decent presence in India. In fact, the company had even introduced Hindi language on its platform four years back. The move, however, failed to yield any productive results for the company.
Meanwhile, the San Francisco headquartered company is stepping up its monetization strategy. It recently launched “Shop the Look” feature on its platform to attract small and medium businesses. Thanks to this aggressive strategy, company’s revenue is expected to increase 50% to surpass $700 Mn, according to New York Times report earlier this month.
Pinterest, founded by Ben Silbermann, Paul Sciarra and Evan Sharp in 2010, is widely counted amongst successful global social media startups. The company has so far scooped up $1.5 bn in funding and is valued around $12 Bn.
Below is a short video where CEO & founder Ben Silbermann is talking about Pinterest at ShopTalk 2018 conference.