Pinterest has reached the first full year of GAAP profitability, surpassing 2 Bn USD in revenue representing 52% growth from the previous year. The platform’s strategic priorities for the next financial year have also been underlined in the Pinterest Q4 2021 Report.
"As we look ahead to 2022, we plan to further invest in our business as we scale the distribution of Idea Pins through our creator-led content efforts and enhance our core Pinner experience and shopping to make Pinterest the destination for inspiration and action on the internet", stated Ben Silbermann, CEO & Co-Founder, Pinterest.
Here are the key takeaways from the last quarter of the financial year:
- Q4 revenue has been reported to be 847 Mn USD, representing a growth of 20% year-over-year
- Global Monthly Active Users (MAUs) total at 431 Mn, a decrease of 6% year-over-year
- Pinterest has focussed on building the foundation of a video-first platform in 2021, with a pivot towards short-form video tools, features, and post formats. In 2022, the development of the platform will zero in on a creator-led video-first native ecosystem
- Shopping has been expanded to 13 international markets, and Pinterest is now building on seamlessly closing the loop from inspiration to action, and will develop in-app checkout throughout 2022
- Pinterest will be scaling up the distribution of Idea Pins and aim to build a lifestyle publishing platform
- The platform will also develop a inspiration-led and personalized full-funnel shopping experience and continue to invest in mediating products and services offered by merchants and businesses towards potential target audiences
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