Pinterest, which has created the teen social media craze, is in talks to buy photography app VSCO. The person who has knowledge of Pinterest’s affairs has given about this matter. Due to lack of official authority, the person aware of this matter, concealing his identity, informed that the talks are still going on and the deal price has not been finalized yet. Pinterest has a market capitalization of approximately $49 billion while VSCO has raised $90 million in funding with a last market value of $550 million.
But representatives from Pinterest and VSCO declined to comment or comment on the deal. VSCO spokesperson Julie Inouye said, “The company is focusing on expanding its business. We always hold meetings with various companies on constructive points and do not discuss rumors or speculations.
How do Pinterest and VSCO work?Pinterest and VSCO, which stands for Visual Supply Company, are part of a group of tech companies that are heavily focused on digital images and visual editing and rely less on social networking features. Pinterest, a digital pinboard site that went public in 2019, allows its users to discover related images to inspire creative projects, plan important aspects of their lives, including home renovations, weddings and meals. and provides saving features.
VSCO, a 10 year old startup company, is an app for editing and sharing images and videos. In 2019, it became popular with a Gen Z group known as ‘VSCO girls’ who were known for wearing crocs and carrying hydro flasks. The idea of VSCO girls became quite viral due to social media imitation, mockery, memes and Halloween costumes.
How does Pinterest benefit from this deal?
Pinterest, which is very popular among its younger audience and has expertise in photo editing technology, can take its core service further with this deal. During the Covid pandemic, the company’s revenue increased significantly as there has been a significant increase in digital activities during the lockdown. Pinterest added 100 million monthly active users last year and now has a total of 450 million monthly active users.