Pinterest hot on the heels of social media rivals
While some commentators has suggested that Facebook's acquisition of photo-sharing mobile app Instagram today (April 10) is the social media giant's response to rival Pinterest, a new report suggests that they may be right.
"Faced with its first serious competitor, Facebook has dropped a billion dollars to purchase Instagram, a photo-sharing service," Forbes contributor David Coursey wrote today.
"Why? To drop a roadblock in front of Pinterest, the Facebook-on-training-wheels that has recently been all the rage."
This growing popularity was highlighted last week by research firm Experian Hitwise, who claims that Pinterest is now the third-most popular social network.
The firm's 2012 Digital Marketer: Benchmark and Trend Report indicates that Pinterest attracted 21.5 million visits during the week ending January 28 – nearly 30 times more than a comparable week in July last year.
While the report tracks total visits rather than unique visitors, numbers for Pinterest for March reached 104 million – 18 million ahead of nearest rival LinkedIn.
Facebook recorded seven billion visits during the same month, while Twitter was placed second with 182 million visits.
Mobile web visitors and mobile app numbers were not included in the findings.
According to VentureBeat, Pinterest claimed a 1.2 per cent share of the social media revenue for e-commerce sites just 12 months ago. Now it has increased its stake to 17.4 per cent – and the amount appears to be rising.
"We project Pinterest will be responsible for 40 per cent of social media e-commerce transactions by end of Q2 2012, reducing Facebook's share to slightly under 60 per cent from 86 per cent a year ago," contributor Jeffrey Zwelling wrote (April 9).
The image bookmarking site also saw traffic increase by 50 per cent between January 2012 and February 2012 – data which Experian's analysts believe represents the social media community's shift away from friendships to common interests in an overall movement towards "social personalisation".
Posted by Elise Ferrari