Very Social Network

Snapchat Leads Q3 Social Networking Earnings With Strong Results

YAHOO FINANCE - 7 The analysis of Q3 earnings for social networking stocks highlights Snap (NYSE: SNAP) as the top performer, reporting revenues of $1.19B, up 5.3% YoY and beating analyst expectations by 7%. Snap's user base also grew, with 406M DAUs, marking an 11.8% YoY increase. The stock is up 75.6% since the results. Other companies in the analysis include Pinterest (NYSE: PINS), Nextdoor (NYSE: KIND), and Meta Platforms (NASDAQ: META). Meta delivered the fastest revenue growth, up 23.2% YoY, with 3.96B MAUs.

by Kayode Omotosho
See full article at Yahoo Finance

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Pinterest Tests Tool Allowing Users to Filter Searches by Body Types

TECH CRUNCH - Pinterest is conducting a test for a consumer-facing tool that enables users to filter searches by different body types, expanding on its efforts to enhance product inclusivity. The tool, initially focused on women's fashion and wedding ideas, leverages Pinterest's body type technology, powered by computer vision. This technology identifies various body types across the platform's extensive image database, promoting inclusivity and mitigating body size discrimination. The feature aims to improve search result diversity and boost user engagement, aligning with Pinterest's commitment to creating a more positive internet experience.

by Sarah Perez
See full article at Tech Crunch

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Pinterest Beats Q3 Sales Targets, Stock Soars

INVESTING - Pinterest, the social commerce platform, outperformed analyst expectations in Q3 FY2023, reporting an 11.5% YoY revenue increase, reaching $763.2M. Additionally, Pinterest achieved a non-GAAP profit of $0.28 per share, a significant improvement from the previous year. These results are accompanied by strong global MAU growth and margin expansion.

See full article at Investing

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Pinterest Introduces New Safety Features for Teens

TECH CRUNCH - Pinterest unveils enhanced safety features for teenage users, offering private profiles, more control over followers, and message safety controls. Users aged 16 and older can opt for private profiles, which remain the default for users under 16. All users, including teenagers, gain greater control over followers and can review and remove unwanted followers. The changes aim to improve teen safety following reports of misuse and will roll out this week.

by Sarah Perez
See full article at Tech Crunch

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Pinterest Is Combining Pins and Idea Pins Into a Single Format

TECH CRUNCH - Pinterest is streamlining its content creation process by combining tools for video Pins and static images into one unified experience. Users can add features like music, text overlay, and stickers to their Pins. Additionally, Pinterest is introducing new editing features, measurement tools, safety features, and engagement tools.

by Aisha Malik
See full article at Tech Crunch

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Pinterest Announces Multiyear Ads Partnership With Amazon

TECH CRUNCH - Pinterest has entered into a multi-year strategic ad partnership with Amazon, which will bring more brands and relevant products to its platform. The e-commerce giant will be Pinterest's first partner on third-party ads. Pinterest beat on Q1 revenue and earnings, with revenue up 5% YoY to $603M, but its shares dropped 6% on higher Q2 costs. The Amazon ads partnership could offer consumers a more seamless buying experience, which will potentially allow faster checkouts.

by Sarah Perez
See full article at Tech Crunch

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Pinterest Expands Its Creator Fund for Underrepresented Groups to 5 More Countries

TECH CRUNCH - Pinterest is expanding its Creator Fund for underrepresented groups to five more countries, including Canada, Germany, Austria, Switzerland, and France. The fund provides financial and educational resources to creators from underrepresented groups. Pinterest has invested over $2.3M in cash grants and ad credits for this program since its debut in 2021.

by Aisha Malik
See full article at Tech Crunch

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Pinterest Reaches 450M MAUs, Will Focus on Making Videos 'Shoppable'

TECH CRUNCH - Pinterest said during its latest earnings call that the service now has 450M MAUs globally, a 4% jump YoY. "Over the long term, we also want to make every pin shoppable. To that end, we're making video content on Pinterest more actionable using the same playbook we applied to static images," the company's CEO Bill Ready said during the earnings call.

by Ivan Mehta
See full article at Tech Crunch

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Pinterest Laid off 150 Workers or Less Than 5% of Its Entire Workforce

INDIA TV NEWS - Pinterest has reportedly laid off 150 employees, less than 5% of its staff, following the current wave of layoffs at IT firms. The employees got discharged from many departments within the corporation, but not all were affected equally.

See full article at India TV News

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Pinterest Announces New Video Partnership With Publisher Condé Nast

SOCIAL MEDIA TODAY - Pinterest has announced a new partnership with publisher Condé Nast which will see the lifestyle brand share exclusive content to the platform, including new video activations around major events, like New York Fashion Week. Pinterest says that Vogue and Architectural Digest will produce ~160 exclusive videos 'aligned with Pinterest’s key seasonal and cultural moments', including Fashion Month in Feb, Wedding Season, Summer, and Back to School activations.

by Andrew Hutchinson
See full article at Social Media Today

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Pinterest Shuts Down Its 'Creator Rewards' Program

TECH CRUNCH - Pinterest has shut down its Creator Rewards program that allowed creators to earn money by creating content around monthly prompts and achieving certain engagement goals. Pinterest will pay a one-time bonus to creators who participated in at least one reward goal for Aug, Sep, or Oct 2022. The company didn’t specify the bonus amount on the Creator Rewards page.

by Ivan Mehta
See full article at Tech Crunch

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Pinterest Launches Its Collage-making App Shuffles to the General Public

TECH CRUNCH - Pinterest's new collage-making app Shuffles is now available to the general public, after entering an invite-only test phase earlier this summer. The app grew in popularity with Gen Z users, who used the creative expression tool to make "aesthetic" collages, sometimes set to music and posted to TikTok, or shared privately with friends or the Shuffles community. This resulted in Shuffles surging to become the No. 1 Lifestyle app on the U.S. App Store in Aug.

by Sarah Perez
See full article at Tech Crunch

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Pinterest Gets an Upgrade on Bright Future With New CEO

BARRONS - Pinterest stock rose after an analyst expressed confidence in the social media platform under its new CEO. Shares of Pinterest were up 5.8%, to $23.37, and were on pace for their largest percent increase since Aug. 25. The stock is off 36% for the year.

by Angela Palumbo
See full article at Barrons

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Pinterest Debuts a New App, Shuffles, for Collage-making and Moodboards

TECH CRUNCH - Pinterest has quietly launched a new iOS app called Shuffles for putting together collages using photos, image cutouts, and other animated effects. The app is currently in an invite-only status with the ability to join a waitlist from its home screen.

by Sarah Perez
See full article at Tech Crunch

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Pinterest Launches Real-Time Analytics in Its Mobile App

SOCIAL MEDIA TODAY - Pinterest has launched real-time analytics elements within Pin Analytics on mobile, which will provide more data on exactly how users' Pins are performing at any given time. Pinterest does note that real-time insights are not available for audience metrics, like 'Total Engaged Monthly Audience' and age and gender filters. But users will be able to see overall data on response to their Pins, whenever they check in, which could be a helpful guide for their Pin strategy.

by Andrew Hutchinson
See full article at Social Media Today

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