The overview summarizing the Pinterest Q4 2020 Report provides insights into one of the most successful quarters Pinterest has had and its priorities for 2021.
Pinterest experienced colossal growth in 2020, particularly in Q4 2020, in terms of revenue and user base. The spike in revenue generated was a result of the holiday advertiser demand and ROI in ad products and international expansion.
Ben Silbermann, CEO & Co-Founder, Pinterest shares, “As we look to the future, our focus will continue to be delivering more inspiring and shoppable content and helping advertisers realize the value and positivity of our platform”.
- Q4 revenue grew 76% year over year to $706 million. 2020 revenue grew 48% year over year to $1,693 million
- Shopping ad revenue grew faster than the overall business and saw a 6x increase in the number of businesses that used the shopping ads format in Q4
- Global Monthly Active Users (MAUs) grew 37% year over year to 459 million
- Over 100 million additional monthly active users increased on Pinterest in 2020, more than any other year in the platform’s history
- Full year 2020 revenue grew 48% year over year to $1.69 billion
- Product-only searches have grown by 20x since the beginning of 2020
The platform mentions improving advertising and shopping capabilities, along with the overall user experience would be a part of the strategic priorities for 2021. Research and development would continue for Pinner products, ad products, and measurement investments.