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According to a new study by Piqora, A pin on Pinterest generates $US0.78 in sales, on average on e-commerce sites, which is 25% more than what it drove in the fourth quarter of 2012. What’s more, a pin is repinned (a form of sharing) 10 times on average. For comparison, the average tweet on Twitter is only retweeted slightly more than 1% of the time. Another interesting point made is that pins are “frozen in time,” in that they tend to be pinned and repinned often over time, rather than fading away like a typical Facebook or Twitter post. That’s because Pinterest is not focused on user feeds, but on category pages and popular sections.
Although Pinterest is demonstrating potential as a platform for transactions, the real opportunity in social commerce is shepherding consumers through the funnel end-to-end. We talk about this notion of social commerce in greater detail in a recent research report. (Piqora via TechCrunch)
In Other News …
Advertisers can now target users on Twitter by which operating system and version they use, specific device, and Wi-Fi connectivity. (Twitter Blog)
Snapchat’s owners turned down a $3 billion acquisition offer from Facebook. (Wall Street Journal)
WeChat now has 272 million monthly active users, up 15% from the previous quarter. (Tencent)
Dropbox now has 200 million users. (TechCrunch)
Google generates more revenue than the magazine and newspaper industries in the U.S. (Business Insider)
Foursquare’s head of product is leaving the company. (All Things D)