One of the fastest growing Social Network, Pinterest has gotten serious with monetizing their platform. The company has revealed that they have roped in Tim Kendall from Facebook to work on the monetization strategy for Pinterest. Kendall was the one who designed the monetization strategy for Facebook and he left the company back in 2010. He has pioneered in monetizing for Social Networking platforms and Pinterest has made the right choice in pulling him in into their team.
Facebook is considered to be having one of the most successful monetization till date and has generated over $3.2 billion in revenue in 2011. The strategy is very strong that it contributed to 85% of Facebook’s total revenue in 2011. When Pinterest gets its own monetization strategy, it would be getting pings from over 17.8 million users who are on Pinterest.
Pinterest does not serve ads at the moment and looks neat and tidy till date. But having hired Tim Kendall, the social network would have a new revenue model in near future. But we wish we don’t get bogged by it.
Source: Fortune