Pinterest(PINS)2024-09-11 18:07Company and Industry Overview * Company: Pinterest, Inc. (NYSE:PINS) * Industry: Social media, e-commerce, visual search * Event: Goldman Sachs Communacopia + Technology Conference, September 11, 2024 * Participants: Bill Ready - CEO of Pinterest, Eric Sheridan - Goldman Sachs Key Strategic Priorities * User Growth and Engagement: Pinterest has seen eight consecutive quarters of user growth and is focusing on increasing engagement through shoppable content, curation, and AI-driven recommendations. * Monetization: The company is expanding its monetization efforts by targeting lower funnel advertising and leveraging its unique user behavior data. * AI and Machine Learning: Pinterest is leveraging AI to improve recommendation relevance, personalize user experiences, and enhance ad targeting. User Growth and Engagement * User Growth: Pinterest has seen eight consecutive quarters of user growth, with record levels of new users and deeper engagement per user. * Shoppable Content: Pinterest has transformed from a window shopping platform to a shoppable platform, allowing users to click, convert, and buy directly from the platform. * Curation: Pinterest's unique curation behavior provides valuable insights into user preferences and interests, which are used to improve recommendations and personalize user experiences. * AI-Driven Recommendations: Pinterest's AI algorithms analyze user behavior and preferences to deliver highly relevant recommendations, driving engagement and user satisfaction. Monetization * Lower Funnel Advertising: Pinterest is focusing on lower funnel advertising, targeting users who are actively looking to purchase products. * Performance Advertising: The company is gaining share in performance budgets by offering tools and solutions that help advertisers drive clicks and conversions. * Third-Party Partnerships: Pinterest has formed partnerships with third-party platforms like Amazon and Google to expand its ad inventory and reach. AI and Machine Learning * AI-Driven Recommendations: Pinterest's AI algorithms analyze user behavior and preferences to deliver highly relevant recommendations, driving engagement and user satisfaction. * Computer Vision: Pinterest is leveraging computer vision to analyze images and provide more accurate and personalized recommendations. * Large Language Models: Pinterest is using large language models to improve the relevance of its recommendations and personalize user experiences. Competitive Landscape * Unique User Behavior: Pinterest's unique user behavior and curation signals provide a competitive advantage over other social media and e-commerce platforms. * Focus on Lower Funnel Advertising: Pinterest's focus on lower funnel advertising differentiates it from other social media platforms that primarily focus on upper funnel advertising. * AI and Machine Learning: Pinterest's AI capabilities give it a competitive edge in delivering personalized and relevant user experiences. Gen Z * 40% of Users: Gen Z represents the largest and fastest-growing demographic on Pinterest, accounting for more than 40% of the platform's user base. * Shopability and Curation: Gen Z users are drawn to Pinterest's shopability and curation features, which allow them to discover new products and express their personal style. * Positive Alternative to Social Media: Pinterest provides a positive alternative to social media, offering a space for users to invest in themselves and discover new ideas.