Pinterest just picked up a cool $100 million in funding led by Japanese online shopping giant Rakuten, placing its value in the region of $1.5 billion. That's huge--bigger than Instagram--but perhaps justified if the Pinteresting effect is reverberating through e-commerce sites. Here's some proof that it is: Shopify, which supplies the e-commerce back end to 25,000 online stores, asked its partners whether Pinterest users are buying anything. The results are impressive.
Pinterest users shop big--the average price tag is double that of a buy from a Facebook user.
Visits from the social network have jumped 145% since January this year, and, as a source of revenue for stores Pinterest now contributes 17% of social media traffic--up from 1% in Q2 last year.
There are more tidbits on Shopify's full infographic.