Pinterest co-founder Ben Silbermann once compared his social sharing website to the bug collection he kept as a child. Lucky for him, today’s Internet users share his love of collecting things: as of June 2013, Pinterest had 70 million users, according to Paris-based social media research firm Semiocast, its latest $225 million funding round in October 2013 bumping its valuation up to a whopping $3.8 billion.
Businesses have a lot to gain from Pinterest (and social media in general): new customers, more engaged customers, sales. According to a June 2013 report by market intelligence firm Visioncritical, four in 10 social media users have purchased an item online or in store after “favoriting” or sharing it on Pinterest, Twitter, or Facebook. Nearly half — 47% — of Pinterest purchasers say they pinned and purchased something after simply stumbling across it on the... keep reading