The Pinboard online site is in talks to discover VSCO, a photo editing and sharing app that you remember for inspiring a teen subculture. back in 2019. Negotiations remain ongoing, two sources with knowledge on the issue said New York Times, and there is still no word on a possible price for the transaction.
Neither Pinterest nor VSCO directly confirmed the discussions about a potential acquisition. In a statement to the Times, VSCO spokeswoman Julie Inouye said the company did not discuss rumors and “always meets with different companies in the creative space at some point.”
However, the calendar would make sense, given the Pinterest record fourth quarter last year. The company has seen an increase in the number of users and market value, as the covid-19 blockades have given dozens of people enough time locked inside to run aimlessly through social media. Pinterest it’s said added 100 million new users in 2020 and is now proud of it 460 million monthly active users worldwide. According to the Times, Pinterest has a market capitalization of about $ 49 billion and the project of the experts the company’s total revenue could increase by more than 48% in 2021.
Right now, it’s in Pinterest’s best interest to hit while the iron is hot and focus on building its public perception, where it’s probably the weakest. Even if many people are on the platform, you are more likely to meet Pinterest’s very vocal greetings than the users who sing his praises. And, although I didn’t go to high school in a hot minute, it wasn’t exactly the coolest place to be online back then, and its image doesn’t seem to have given up much since then. Acquiring VSCO, a service that avoids traditional values on social media such as “likes” and followers and is so popular in Generation Z that it generated the eponymous “VSCO girl” meme, could inject a brand new life.
One thing that works against Pinterest is its work history. Against the background of the company’s expansive growth in recent years, employees have seriously complained toxic work environments, with more women filing lawsuits alleging racial discrimination. Former Pinterest COO Francoise Brougher abruptly gave up last year with little explanation, subsequently arguing that she was pressured to leave to complain about gender discrimination and wage inequality among older people Pinterest.
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