Reportedly, the online pinboard website Pinterest is picking up VSCO, a photo editing and sharing app you can remember to inspire a teenage subculture. back in 2019. Negotiations continue, two sources with knowledge of the case tell the New York Times, and there is still no word on the possible price for the deal.
Neither Pinterest nor VSCO directly confirmed the talks about a possible acquisition. VSCO spokeswoman Julie Inouye said in a statement to the Times that the company does not discuss rumors and “always meets with different companies in the creative space at different times.”
However, the timing would make sense given Pinterest’s record fourth quarter last year. The company has experienced an increase in users and market value as covid-19 affiliates have given many people enough time to browse aimlessly through social media. Pinterest to be heard added 100 million new users in 2020 and now boasts almost 460 million monthly active users worldwide. 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 strike while the iron is hot and focus on building its public perception, where it’s probably the weakest. Even if there are a lot of people on the platform, you are more likely to encounter them Pinterest’s many vocal haters as users singing their praises. And even though I hadn’t been to high school for a minute yet, it wasn’t exactly the coolest place to be online at the time, and it seems like the image hasn’t gotten much out of it since. The acquisition of VSCO, a service that eludes traditional social media standards such as likes and followers, is so popular with Generation Z that it has spawned the eponymous ‘VSCO Girl’ meme, revitalizing the brand .
One thing that works against Pinterest is its alleged godly workplace record. Amid the growth in the company over the past year, employees have complained seriously about it toxic work environments, with several women sue that they have experienced racial discrimination. The former COO of Pinterest, Francoise Brougher, suddenly resigned last year with little explanation, later claimed that she was put under pressure to leave because she complained about gender discrimination and salary inequality among higher teachers of Pinterest.
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