Pinterest, the internet’s scrapbook, hits 300 million users

Inspiring many.
Inspiring many.
Image: AP Photo/Richard Drew
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Pinterest, the scrapbooking platform, is now inspiring 300 million users worldwide each month. The company posted its second-ever earnings report today (August 1), after going public on April 18, saying that its monthly average users, called “pinners,” have grown 30% since this time last year. For comparison, Snapchat has roughly 190 million daily users, and Twitter has 139 million.

The majority of Pinterest’s users, around 215 million of them, are outside the US, and its international user base grew by 38% while US users only by 13% since the same quarter last year. Still, like many social networks, Pinterest’s US users are the company’s most valuable. The average revenue per user in the US is $2.80, while internationally it’s only $0.11. Two-thirds of Pinterest’s users are also women, the company revealed in its IPO filings. (Pinterest shared some searches that have been growing in popularity—“women proposing to men,” for example, grew 131% from last year).

Pinterest, whose mission is to “discover useful and relevant things that inspire you to do stuff,” posted $261 million in revenue for the quarter, a spike of 62% compared to the $161 million it brought in during the same period last year.

In a letter to shareholders, the company attributes its success in the quarter in part to changes on the platform, including making search recommendations more personalized, and adding more video and shoppable content. But that’s also a space where Instagram, Pinterest’s rival platform with over 1 billion global users, is also growing.