Comment
0
Tweet
3
Print
RSS Feeds

Pinterest popular, but doesn't make money

Monday - 9/17/2012, 11:06am  ET

pinterest500.jpg
Courtest Pinterest

Jamie Forzato, wtop.com

WASHINGTON - With more than 23 million users, Pinterest is one of the most popular websites in the world.

The free, online scrapbook offers account holders a place to post pictures and links of their favorite things.

A new study by the Pew Foundation found that one in five American women who use the internet also use Pinterest.

But there's one problem: The site hasn't found a way to turn a profit.

That's surprising, considering Pinterest was valuated at $1.5 billion last May.

The site has grown so fast that new research from the website analysis company Shareaholic says Pinterest refers more online traffic to outside websites than Twitter or Yahoo. But due to lack of advertising, the site doesn't generate revenue from those users before they leave the website.

Pinterest says they might monetize the site in the future, but making money is not their top priority. The website is only funded by outside investments.

Follow WTOP on Twitter.

(Copyright 2012 by WTOP. All Rights Reserved.)