Pinterest Unveils Data Analytic Tool For Businesses, Gears Up For Monetization

Pinterest, the popular social scrap-booking site has started rolling out data analytic tool for businesses. The new tool will show businesses  how many visitors it delivers to their websites, reports Reuters.

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This new tool will also give further insight about user activities on Pinterest like number of people pinning from a site or number of views each pin has received and so on. Should be noted that this new tool is available  only for verified websites.

The social pinboard which allows people clip and share their favorite photos and videos online, received a funding of  $200 million in February by a new investor Valiant Capital Management. This fourth round of funding has valued the company at whopping $2.5 billion. With 50 million unique monthly users worldwide, Pinterest currently does not have paid ads and is laying foundations to generate revenue.

Last year in November, the three year old start-up launched  free business accounts for marketers thereby sending signals to the multitude of brands and retailers already active on its platform that it’s getting ready to open for business. Also a survey in October 2012 revealed that Pinterest is driving more e-commerce sales than Facebook. Pinterest also outsmarted Twitter, StumbleUpon, Bing, and Google in referral traffic last July as per data released from Shareaholic.

Pinterest has many plans in the pipeline this year, launching an international site is one of them. Rolling out this analytic tool for buinessess, shows Pinterest’s efforts to generate revenue from new features. What do you think?

Image Courtesy |  mashable.com

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