Pinterest stock spiked in extended trading Thursday after its 2021 earnings results stressed the company’s first full-year of profit, as well as the first year to tick above $2 billion in annual revenue. Pinterest stock rose 28 percent in extended trading on a better than expected Q4. “We took important steps in 2021 with the launch of our foundational technology to deliver a video-first publishing platform,” Pinterest co-founder and CEO Ben Silbermann said, emphasizing that the company would continue to focus on the new initiatives that helped revenue grow 20 percent for Q4 and 52 percent for the year. Continue reading Pinterest Posts Its First Full-Year Profit on Sales of $2 Billion

Following last month’s updates making search and Lens functions more easily accessible via the home feed of Pinterest’s app, the popular photo-sharing and discovery platform has now added the ability to zoom inside Pins for a closer look at images and GIFs. The new feature (presently available for iOS and coming soon to Android) is one of the app’s most user-requested features. It is also joined by an updated visual search for finding specific objects. Interestingly, the same image search is available starting this week without a Pinterest account, via the Chrome browser extension. Continue reading Pinterest Updates its Visual Search, Adds New Zoom Feature

Pinterest, now in its third full year earning selling ads, is targeting more than $500 million in revenue this year. The company earned $100 million in revenue in 2015 and $300 million last year. Some close to Pinterest say the company is gearing up for an eventual IPO. “The company hired its first CFO, Todd Morgenfeld, from Twitter back in October, and has Facebook’s former monetization director, Tim Kendall, overseeing all of Pinterest’s revenue efforts, among other things,” reports Recode. Those close to the company suggest that if Snap “can fetch a valuation north of $20 billion on the public markets, Pinterest is in good shape to do something similar.” Continue reading Pinterest, Targeting $500 in Revenue, Could Be Prepping IPO