Content-sharing service Pinterest, which allows members to pin images and videos to their own boards, doesnât 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.
âPinterest isnât a social network; we are really this catalogue of ideas,â said Pinterest President Tim Kendall to the FOX Business Networkâs 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.
âThey 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 itâs 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 âbuilding a great product and service.â
âMarketers 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 Meekerâs] 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.