Pinterest expands advertising business to Latin America
Pinterest Inc. is expanding its advertising business to Latin America, rolling out ads in Brazil this week in an effort to generate more sales from outside the U.S.
Almost 79% of Pinterest users are international, but only 17% of revenue came from beyond America’s digital shores last year.
Brazil, with a population of more than 210 million, has long been an attractive market for U.S. tech companies looking to expand. Facebook Inc. has made the country a key part of its international strategy.
Jon Kaplan, global head of sales at Pinterest, said Brazil is one of the company’s largest non-U.S. markets, based on the number of users. After bringing ads there, Pinterest plans expand its marketing offerings to Mexico later this year, followed by Argentina, Colombia and Chile.
Pinterest, a digital search and scrapbooking provider, has benefited as the COVID-19 pandemic kept people locked down at home looking for inspiration and shopping ideas online. That increased demand for the company’s digital ads, sending its shares up more than 400% in the past year.