It seems that Pinterest is really ramping things up when it comes to monetization. Back in January, Pinterest officially launched Promoted Pins. In May, a flurry of new ad formats came about. In July, the company introduced Buyable Pins. From this, we can take in the fact that Pinterest is really pushing to try making more money with their service.
As of August 17, Pinterest announced that they hired a prominent advertising product manager from Twitter, Nipoon Malhorta. The newly hired product manager was once the head of Twitter’s brand advertising product team.
Pinterest head of product for monetization (and Malhorta’s new boss) Jonathan Shottan said in a statement,
“Nipoon is a proven leader with the ability to execute and scale teams and revenue generating products. We are thrilled to have him as part of the team as we continue to grow and innovate on ads and commerce.”
Mahorta came over to Pinterest because he felt that the company has great potential as an advertising platform. The rich visual experience that comes with Pinterest, along with an audience who tends to spend a lot of time search from products is a prime target for content from businesses.
In an email correspondence that that Mahorta had with Marketing Land, he said,
“Other platforms have their own strengths that make them compelling advertising platforms. But the unique combination of aspiration expressed by users along with a context that makes them receptive to discovering products and services in a rich medium didn’t exist until Pinterest. This brings unprecedented potential for businesses to connect with users in ways that feel relevant and natural. Fully realizing this potential will contribute to the growth.”