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Pinterest announced a new ad deal with Google as the company aims to rage up its advertising receipts . Google is the societal platform ’s 2d third - party advert married person afterAmazon contract a multiyear deal with Pinterest last year .
The company talked about the Google partnership during the earnings call for Q4 2023 , where it posted consequence below psychoanalyst expectations . Pinterest ’s revenue for the menstruum was $ 981 million with 12 % yr - on - year growth , while monthly active user jumped to 498 million with 11 % year - on - year maturation .
Pinterest ’s stock dipped nearly 28 % because of below - expectation revenue but recovered after CEO Bill Ready announced the Google muckle . He said that the troupe started roll out the new ad integration a few weeks ago , and it is already see positive solution .
“ This partnership will rivet on monetizing several of our currently unmonetized international market by enabling ads to be served on Pinterest via Google ’s Ad Manager . We endure live a dyad of weeks ago , and this is starting to ramp up . Third - party ad need is descale as we counter , ” he state .
Ready noted that Pinterest has 80 % of users outside the U.S. but they only represent 20 % of revenue . He order that the Google partnership will help increase the median gross per user in external market .
Growing audiences
The Pinterest chief operating officer talked about leveraging AI and new formatting to construct up userbase and booking . He enounce the companyrolled out the collage lineament , which reserve user to use stickers and objects to make a new range , to all iOS substance abuser globally . The ship’s company said that 75 % of colleges have a shoppable product thole , but it did n’t say anything about spiritual rebirth figures .
Last year , the company also launched an auto - organize feature for users , which discern similar thole and nudge users to create boards . The feature lead to a 30 % step-up in boards created on the social platform .
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Ready also said that the company ’s reproductive AI - based search guides help oneself substance abuser hone their queries and get them closer to “ the point of activity or leverage . ”
Last November , Pinterest started experimenting with a new dick toincorporate trunk type rangesin search to make results more inclusive .
