Pinterest expands advertising business to Latin America
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.