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$PINS product searches up 20x YOY
Engagement with shopping purchase grew 200% over the past year.
Management mentioned on platform transactions coming by the end of year
They did mention that loosening government restrictions is driving down engagement and they expect this to continue.
Highest international growth in Western Europe and Canada.
Serving ads in 29 countries. Just launched in Brazil. Mexico coming in May (that's a big one).
Talking about a native content ecosystem (aka less links off-site). Smart.
Grew headcount 17% YOY. They expect to continue to grow in the mid-teens as a percentage base for opex expenses.
Revenue from retailers with sales objectives comprised more than 20% of total revenue.
Small and mid-sized advertisers contributed nearly 50% of total revenue.
Small and mid-sized advertisers contributed nearly 50% of total revenue.
Most of the talking points are covered in the shareholder letter, but the QA is giving some pretty good insights.
Primarily though the emphasis is around shopping, conversion based revenues, international and starting to reduce friction/on platform transactions.
Primarily though the emphasis is around shopping, conversion based revenues, international and starting to reduce friction/on platform transactions.
@markmahaney Asked whether reduced friction opens new revenue models. Management says possibly, if they can make sure the user experience is good.
Visibility in conversions is a possible side benefit of creating a native on platform shopping environment.
I have to sign off after this question, but overall IMO the Pinterest thesis is still in tact. The runway is still incredibly long. Management clearly has a vision of a platform where you can go from inspiration to purchase in one place.
Wall Street is still struggling to value this and consistently compares it to social media networks. I think it's clear it's not, it's an e-commerce, big data, content ad play all in one. International still is a clear runway ST.
E-commerce is the LT endgame.
