Pinterest introduces new features that make it easier to plan recipes, virtual events, and other quarantine activities. These include the ability to add a date or notes to a board as well as automated ways to better organize your pins on a given board, using machine learning technology.
The company saw an increase in certain types of activity on its platform in the mid-40s. For example, there is an increase of over 50% in the number of people using the site to plan virtual events – such as virtual birthdays, baby showers or virtual educational activities.
During this time, he also saw people planning their post-quarantine plans in advance, as well as an overall 60% increase in the number of boards created compared to the same time last year. Board engagement is also up nearly 75% year-over-year and nearly 50% month-over-month.
Adding board notes will allow Pinterest users to annotate their saves with personal notes – like adding a list of ingredients to accompany a pinned recipe, a to-do list for a project, a to-do list. or whatever they want to write down.
Another novelty is the possibility of adding a date to a table. This can help plan the project or just better organize the tables by dates. When projects come to an end, it may be easier to find old boards to archive if they have a date attached.
Finally, Pinterest is updating its board technology to suggest sections to add to a board.
For example, if you have a fairly broad topic – like “activities for kids” – Pinterest may now recommend organizing pins into sections like “art projects”, “outdoor games” and the like. And when you start a new board, Pinterest can suggest sections to add as soon as you save your first Pin.
Company claims to use its data on billions of saved ideas combined with machine learning and Pinterest PinSage technology, to determine how the pins should be grouped. This problem is difficult, Pinterest notes, because it needs to accurately group similar pins and predict how a Pinner might want to organize their board.
These new map features are rolling out worldwide starting today on the web, iOS, and Android.
The new features aim to help Pinterest respond to changes in consumer behavior since the COVID-19 pandemic, where people temporarily refrained from planning trips or events in person, and instead use their boards to organize related activities. in quarantine. activities, such as a child’s homeschool or virtual events.
Launches follow Pinterest report this week of a solid Q1 amid the COVID-19 pandemic. The company increased its revenue 35% year-on-year to $ 272 million and its user base by 26% year-on-year to 367 million, beating forecasts for both. However, he reported a loss of 10 cents per share, compared to an expected loss of 9 cents per share.
But Wall Street was not happy with the growth of Pinterest users, CNBC reported, which was up 6% year over year in the United States, compared to 8% in the fourth quarter. Overall, Pinterest’s 26% growth is the same annualized growth rate as in the fourth quarter – in other words, stable. It was unexpected, given Pinterest’s claims regarding the use of recordings linked to the pandemic in March and the gains that other social platforms have seen, including Facebook and Snapchat.
Pinterest also warned of a difficult path, due to the decline in advertising linked to the pandemic.