Content-sharing service Pinterest, which allows members to pin images and videos to their own boards, doesnâ€™t consider itself to be just another social media website. The company president says its focus on buying and sharing new ideas gives them a unique position.
â€œPinterest isnâ€™t a social network; we are really this catalogue of ideas,â€ said Pinterest President Tim Kendall to the FOX Business Networkâ€™s Deirdre Bolton.
He also thinks this will give the company a big push in areas of the world like China, where social media sites are blocked from Internet users.
â€œThey are not there to share things with their friends and family, they are not there to find out what their friends and family are doing. So itâ€™s not this community planning tool,â€ he said.
Even though Pinterest is not a direct competitor with Google or Facebook, Kendall says they are making sure to get a piece of the projected $30 billion ad-dollar market by focusing on â€œbuilding a great product and service.â€
â€œMarketers want to be where people want to find themâ€¦ What we see is a disproportionate number of our users come on to Pinterest to look for products and ideas and services. In fact, based on [Mary Meekerâ€™s] data, 55% say they come to Pinterest for products and services and to shop. Only about 12% go to social networks for that purpose,â€ he said.