Pinterest added 124 million new active users in 2020, growing its user base by 27%.
With people being forced to stay indoors, the social media platform saw its popularity soar. The American image-sharing app has 459 million monthly active users worldwide and of which 98 million are from its home market. It has continued growing, has seen its user base grow 3.85% since the last quarter of 2020.
Demographically, women dominate the platform; Female users make up more than two-thirds of Pinterest's global audience. With 40% of Pinterest users being between 25 and 34-year-olds, it is also popular with young adults.
The company, which has 35% of all Americans signed up, generated $1.69 billion annual revenue in 2020 — a revenue spurt of more than 48.27% over the previous year.
[8 minute read]