According to reports, the online pinboard site Pinterest is in talks to pick up VSCO, a photo editing and sharing app you remember to inspire a teen subculture. in 2019. Negotiations are still ongoing, according to two sources familiar with the matter the New York Times, and there is still no possible price for the offer.
Neither Pinterest nor VSCO have directly confirmed talks about a possible acquisition. In a statement to the Times, VSCO spokeswoman Julie Inouye said the company does not discuss rumors and that it “always meets with different companies in the creative space at all times.”
However, the calendar would make sense given the Pinterest record fourth quarter last year. The company experienced an increase in users and market value, as the covid-19 blockchains gave dozens of people a long time trapped inside to move aimlessly through social media. Pinterest as supposed added 100 million new users in 2020 and now has almost 460 million monthly active users all over the world. According to the Times, Pinterest has a market capitalization of about $ 49 billion and expert project the company’s total revenue could grow by more than 48% in 2021.
At this point, it’s in Pinterest’s best interest to attack, while Iron is hot and focuses on building its public perception, where it’s certainly the weakest. Even if there are a lot of people on the platform, you are more likely to find yourself Pinterest’s very vocal haters that users who sing their praises. And while I haven’t been to high school in a while, it wasn’t exactly the funniest place to be online since then and its image doesn’t seem to have changed much since then. The acquisition of VSCO, a service that eschews traditional social media metrics such as “likes” and the number of followers, and is so popular among Generation Z that it generated the eponymous VSCO meme. girl ”, could inject a new life into the brand.
One thing that works against Pinterest is its supposedly horrible job history. Amid the company’s expansive growth in recent years, employees have seriously complained about some toxic work environments, with several women file lawsuits for experiencing racial discrimination. Former Pinterest CEO Francoise Brougher abruptly resigned last year with few explanations, claiming subsequently who was pressured to leave to complain about gender discrimination and wage inequality among people with higher Pinterest benefits.
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