Like other online platforms, Pinterest reaped the benefits of an uptick in e-commerce advertising during the holiday season.
The image-sharing platform saw a 76 percent year-over-year jump in fourth quarter revenue, to $706 million, the company said Thursday. Pinterest had 459 global million monthly active users (MAUs) in the fourth quarter, up from 442 million in its third quarter.
Pinterest said in its letter to investors that its revenue growth was mostly driven by a robust holiday season and product improvements in advertising. It saw a six-fold increase in the number of businesses that used its shopping ads format during the fourth quarter.
“We welcomed over 100 million additional monthly active users to Pinterest in 2020, more than…
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Author: Kim Lyons