Third Party Developers Seek to Monetize Sharing Service Pinterest

  • Developers are building on top of Pinterest in an effort to feed consumer and brand needs and monetize the site’s growing popularity.
  • The interest has sparked competitors such as Fancy (iOS app with “buy now” functionality that recently reached one million users) and third party applications including ShopMyPins (simple bookmarklet that enables users to shop online when they see something they like on Pinterest).
  • Related services include PinShoppr, Pinerly and Curalate (the latter two offer analytics for brands).
  • “The whole conversation revolving around Pinterest and Pinterest-types and their ability to turn this new, visual, viral thing people have taken to at an astounding rate into a viable e-commerce model doesn’t end at proprietary applications though,” notes Digital Trends. “Third party developers are well aware that there’s an opportunity for them to be a part of this Web evolution as well.”
  • Should Pinterest be creating its own new features? “I think Pinterest is kind of going through a similar thing that Twitter went through when they were growing explosively and I really think they are focusing on the right thing,” responds Apu Gupta, Curalate CEO and co-founder. “You have to make sure the wheels stay on the bus before you do other things.”

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