During the D11 itaking place in Southern California, we had the privilledge of finding out what Pinterest CEO Ben Silbermann is planning for the widely successful startup that was recently valued at $2.5 billion, despite not making a single cent to date.
Silbermann was answering questions shot from Kara Swisheren he made a few revelations about the future of Pinterest.
When Swisher asked about Pinterest’s mobile efforts, Silbermann suggested that Pinterst was like many businesses focusing on the growing mobile platform, since not doing that would be nothing short of stupid. “It’d be like asking a business today if they’re a dot-com business,” he said, suggesting that every business created in 2013 should absolutely have some sort of presence on the web.
He further attributed Pinterst’s interest on the mobile platform to the ‘shocking uptake’ of Pinterest’s apps. Already, a growing number of users access Pinterest exclusively on their phone or tablet.
While acknowledging that Pinterest does not make any revenues from its services yet, it was not lost on many that the ‘small startup’ (according to Silbermann), that boasts of more than 54 million users raised $200 million in its most recent round of venture capital financing earlier this year, a deal that valued the company around $2.5 billion.
Silbermann said that the popular online pinboard site is approaching the question of generating revenues cautiously, with the company focusing its efforts on improving the user experience.
“Right now we don’t make money — it makes bookkeeping more straightforward. But, when we think about our mission — we think there’s a direct link between what people buy and what they want to purchase in the future. When we do announce our monetization plans, we want to make it easier for people to discover things they love — we want to help people take the next step.” Silbermann said. “We don’t want to commodify someone’s passions,” He concluded.
It will be interesting to see how Pinterst will implement its revenue structure without adversely affecting user experience.
Silbermann, a former Google employee, started Pinterest with some friends, taking the site live in 2010.