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This woman-loved platform – Pinterest created by three men – Ben Silbermann, Paul Sciarra, and Evan Sharp. It is based in San Francisco and was founded in December 2009 that is almost 11 years ago. Pinterest is the only recognized American company that helps in sharing and storing the images, storing videos, photos, and GIFs on a smaller scale on pinboards. Pinterest has around 400 million active users. But have you ever wondered why is Pinterest called Pinterest?
Pinterest Startup Story
Ben Silbermann once said,
“Don’t take too much advice…. most people generalize whatever they did, and say that was the strategy that made it work…In reality, there’s very little way of knowing how various factors contributed to success or failure”.
This startup story is about Ben who was studying the iPhone apps and then developing one of the most used and popular websites on the internet at the age of 27. Ben later went to work with Google in order to gain some experience, help, and recognition.
Ben quit the job soon and went on with Pinterest. He developed it to his best and many people funded it too. This site was financially supported by a group of successful entrepreneurs and of course, investors including FirstMark Capital, Jack Abraham (Milo), Shana Fisher (Highline Venture Partners), Michael Birch (Bebo), Scott Belsky (Behance), Ron Conway (SV Angel), Jeremy Stoppelman (Yelp), Kevin Hartz (Eventbrite), Hank Vigil, Fritz Lanman, and Brian S. Cohen.
Pinterest is now one of the most popular sites which have gained insane success. 79% of the users of Pinterest are women and more than 100 global companies have Pinterest accounts.
Why Is It Called Pinterest?
The name was first suggested by Ben’s wife while she was watching television. Pinterest is a combination of two words that is “Pin” and “Interest“. The site is described by its name as is more like a visual bookmarking site.
Facts about Pinterest
- There are almost 200 billion pins on Pinterest.
- Pinterest is the 3rd biggest social network site in the USA.
- 98% of the users on the internet claim that they have bought things that stood out from the crowd.
- International Pinterest users are growing with each passing day.
- Life moments is a popular search term on Pinterest.
- 48% of the spinners use the platform for shopping.
2010 – The Funding Former boss of IAC M&A, Shana Fisher summons the company and conveys the message that she loved the product, and wants to invest eagerly if they would let her do so.
2011, April – The company had secured around a $10 million Series. The financing was led by Jeremy Levine and Sarah Tavel of Bessemer Venture Partners (Tavel later joined Pinterest).
2011, October – The company had secured $27 million in funding from Andreessen Horowitz, which had valued the company at $200 million.
2012 – Pinterest launches business accounts, allowing people’s business to grow. They had given two options. Rather make another business accounts, start from scratch or convert their already existing accounts to business accounts.
2014 – Pinterest launches Pin picks which are the weekly curation of their own content.
2016, October – The userbase Pinterest had reached 150 million monthly users. It has become an active site on the internet and the leaked documents from late 2015 display that Pinterest had been targeting 151 million users by the end of the year 2015.
2016, November – Pinterest started showing as a tried it label on the pins that the users had tried. It allowed users to share the products, recipes, and ideas so that others can follow it and explore more.
About the founders
Ben Silbermann – He was born on 14 July 1982, Lowa, United States of America, and he is the CEO of Pinterest. Ben is the multibillionaire of America who graduated from Yale University. His nationality is American but he is married to an Indian, Divya Bhaskaran. His net worth is 370 crores USD.
Paul Sciara – He is the co-founder of Pinterest and also a Yale graduate. Ben and Paul had discovered Pinterest in their college days but executed their plan a bit later. Paul was born in 1981 in the United States and his net worth is USD 550 million. After leaving Pinterest, Paul had a role as an entrepreneur in residence at venture capital firm Andreessen Horowitz.
Evan Sharp – He was born in 1982 in New York, USA and he pursued his education at York Suburbiaa high school. Evan is an American billionaire and Internet entrepreneur. He is also the co-founder and chief design plus creative officer of Pinterest, which is also named as a visual discovery engine, by Ben Silbermann. Evan joined the company’s board of directors in March 2019.
So, tell us how did you like the story behind why Pinterest is called Pinterest? If you like our series of how brands got their names, please tell us in the comment section below.