Pinterest's Rite of Web Passage-Huge Traffic, No Revenue
Posted in: Internet Use/New Technologies at 17/02/2012 16:59
Traffic to the website -- which lets users create online scrapbooks to share images of projects or coveted products -- has grown tenfold over the past six months. In January, the number of visitors on Pinterest.com was almost a third of that on Twitter.com.
There is one problem: The 16-person Palo Alto, Calif., start-up isn't sure how it is going to make money.
"Pinterest's monetization strategy isn't in the oven and it's not even off the baking table," said Jeremy Levine, a board member of Pinterest and a venture capitalist at Bessemer Venture Partners. "We have one hundred ideas but no execution as of yet."