Pinterest partners with Amazon in new strategic ad deal to enhance e-commerce experience


Pinterest and Amazon ads
Pinterest and Amazon ads 


Pinterest has announced a new strategic ad partnership with Amazon in an effort to bring more brands and products to its platform. The multiyear deal is expected to make Amazon Pinterest’s first partner on third-party ads. While Pinterest has been struggling to keep up with changing consumer interests in recent years, this partnership with Amazon is seen as a step in a new direction. The e-commerce giant’s digital ads unit did well in the same quarter, with a 19% jump to $11.6 billion.


The partnership between Pinterest and Amazon is expected to offer consumers a more seamless buying experience. When users come across an Amazon ad on Pinterest, they will be taken directly to Amazon to make their purchase, without having to fill out lengthy forms. Most Amazon customers already have their payment information on file with the company, so this partnership is likely to lead to faster checkouts.


According to Pinterest, over 463 million people come to its platform each month to create a life they love, and brands and products play a critical role in this journey. This partnership with Amazon is expected to scale these efforts in meaningful ways. However, Pinterest has not yet revealed where the Amazon ads will appear to end users. The company has also noted that the implementation of the Amazon ads integrations will take place over multiple quarters, starting later this year.


In its first-quarter earnings, Pinterest reported a 5% year-over-year increase in revenue to $603 million, ahead of the $598 million expected, with adjusted EPS of $0.08 versus $0.02 expected. Global monthly active users were up 7% year-over-year to 463 million. However, the company also reported a GAAP net loss of $209 million, or 31 cents per share, up from 1 cent per share in the year-ago period.


Despite the earnings beat, Pinterest stock dropped 6% on higher Q2 costs. The company has been struggling to keep up with macroeconomic forces impacting its business, which has led to a reduction in expenses, including laying off 150 employees in February. However, Pinterest has promised that it is working to adapt to the changing environment.


The Pinterest and Amazon ad partnership is expected to provide differentiated value for brands while making it easier for customers to discover and buy relevant products through shoppable content. While Pinterest is not making any near-term forecasts related to revenue impacts, the partnership is expected to have a meaningful impact on the platform in the coming year. 

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