ICYMI: Instagram Tips for Fashion Brands, Pinterest Hits 150MM Users, Snap Inc. Pursues IPO
This week: Adaptly shares insights for fashion brands on Instagram, Pinterest officially has 150 million monthly active users, Snap Inc. selects banks for its impending IPO, and Twitter sees record-high engagement for second presidential debate.
Instagram has become a premier destination for fashionistas and style-seekers. Fashion-focused users come to the platform in search of style inspiration and post their own “outfit of the day” pictures – over 82 million. Fashion fans on Instagram tend to have 230% more followers than the average user and check their newsfeeds 15 times in just 24 hours. Additionally, one third of Instagram users have bought an item of clothing after seeing it on the platform. To help fashion brands take advantage of the immense opportunity awaiting them on Instagram, Adaptly’s Milana Saric lays out how to best target this audience, choose ad formats, optimize placements, and drive conversions.
Pinterest has officially reached 150 million monthly active users, up from 50% from 100 million a year ago. 80 million of those users are located outside of the US. Pinterest, which is only six years old, is valued at $11 billion and expected to generate $300 million in revenues in 2016, tripling 2015’s earnings. This growth and the hiring of advertising and financial executives suggest that Pinterest may be progressing towards an IPO, but no immediate plans have been made. *Subscription required to read full article.
Snap Inc. is gearing up for its highly-anticipated IPO in 2017, and has reportedly chosen banks Morgan Stanley and Goldman Sachs to lead the deal. The listing could happen as soon as March at a valuation of $25 billion or more. This announcement comes just weeks after the company changed its corporate name from Snapchat to Snap Inc. to reflect a more diverse offering as it ventures into product development with the release of Spectacles.
Sunday’s debate between Donald Trump and Hillary Clinton was the most-tweeted debate ever, with 17 million debate-related posts on Twitter. The Bloomberg Politics’ livestream on the platform drew over 3.2 million unique viewers, up 30% from the first presidential debate. Good news for Twitter, since TV audiences fell by 21% following the first debate. Twitter’s partnership with Bloomberg for political coverage is part of the platform’s push for livestreaming, which also includes deals with sports leagues like the NFL.