Pin­ter­est adds shop­ping with ‘buyable pins’

The China Post - - WORLD BUSINESS - BY GLENN CHAP­MAN

Pin­ter­est said Tues­day it is div­ing into e-com­merce with “pins” that let peo­ple buy items they like at the popular on­line bul­letin board.

“Pin­ter­est is al­ready de­signed to work like a cat­a­logue, so we wanted to find a way to weave buyable pins into the pages peo­ple al­ready know,” co-founder and chief ex­ec­u­tive Ben Sil­ber­mann said dur­ing an event at the com­pany’s head­quar­ters in San Fran­cisco.

“Buyable pins are a sim­ple and se­cure way to buy the prod­ucts you love right from in­side Pin­ter­est,” he said.

Pin­ter­est buy but­tons will de­but on iPhones and iPads in the United States later this month.

No timeline was given for when buy but­tons might be avail­able in Pin­ter­est ap­pli­ca­tions for An­droid pow­ered de­vices or when they might go in­ter­na­tional.

“Be­lieve me, we want to make sure that any pinner in the world can buy any­thing they want on Pin­ter­est,” head of core prod­ucts Jack Chou told AFP.

“We wanted to start with a beau­ti­ful ex­pe­ri­ence on iPhone and iPad; this is just a big first step.”

Ap­ple Pay or credit cards will be the op­tions for pay­ing at Pin­ter­est, which built the ser­vice with part­ners in­clud­ing Shopify.

Pin­ter­est an­nounced in March that it had raised US$367 mil­lion in new cap­i­tal, push­ing its val­u­a­tion to US$11 bil­lion.

The new funds will help fuel global ex­pan­sion plans for the fast- grow­ing so­cial net­work which calls it­self a “vis­ual book­mark­ing tool.”

Pin­ter­est has be­come one of the In­ter­net’s hottest new web­sites, par­tic­u­larly among women, by giv­ing peo­ple vir­tual bul­letin boards that they can dec­o­rate with pic­tures show­cas­ing in­ter- ests in any­thing from food sports, to fash­ion or travel.

Pin­ter­est sells ad­ver­tis­ing in the form of “pro­moted pins,” but did not plan to charge fees to buy­ers or sell­ers us­ing the com­ing buy but­tons.

Peo­ple in­ter­ested in buy­ing items they see posted at Pin­ter­est are re­ferred via links to out­side web­sites.

Sil­ber­mann said the num­ber of “pins” at Pin­ter­est has grown by 75 per­cent an­nu­ally and now tops 50 bil­lion.

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Pin­ter­est’s move into e-com­merce came the same day that Face­book- owned I nsta­gram an­nounced plans to open its ad­ver­tis­ing plat­form at its popular photo and video shar­ing ser­vice to mar­keters big and small.

Instagram had been work­ing with a few se­lected brands to ex­per­i­ment with weav­ing mon­ey­mak­ing ads into streams of imag- ery served up on smartphones or tablets.

“Later this year, we will con­tinue to connect busi­nesses to the right peo­ple through ex­panded tar­get­ing op­tions,” Instagram said in an on­line post.

“Work­ing with Face­book, we will en­able ad­ver­tis­ers to reach peo­ple on Instagram based on de­mo­graph­ics and in­ter­ests, as well as in­for­ma­tion busi­nesses have about their own cus­tomers.”

Instagram promised users con­trols to tune the rel­e­vance of ads dis­played.

There are more than two mil­lion ad­ver­tis­ers ac­tively us­ing Face­book, and mar­keters will be able to spring off the lead­ing so­cial net­work’s plat­form to get into Instagram, ac­cord­ing to the on­line post.

Instagram planned to start work­ing se­lec­tively with Face­book mar­ket­ing part­ners and then ex­pand glob­ally through the year.

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