4d ago in General discussion
3 Lessons from Pinterest's $30 Billion Rise
Here are 3 key insights from Pinterest’s funding journey.
(taking a closer look at BVP’s investment memo)
Back in 2010, three friends from the Bay Area had a vision: to create something that wasn’t just for the tech crowd but useful for everyone.
That’s how Pinterest was born—a platform for social ecommerce, where users could curate their own catalogs and discover inspiration.
What lessons can we take from the memo?
1. Don’t Fear the Pivot – Embrace It
In 2009, Pinterest’s founders were initially working on a different product called “Tote,” an iPhone app catalog. They released a beta version to friends and quickly noticed something surprising: users were heavily engaging with a small social sharing feature.
When they asked users why they loved that feature, they discovered there wasn’t an effective way to share and curate product lists anywhere else. This insight led them to set aside their original vision for Tote and develop Pinterest, a move that changed everything.
2. Traction Makes Investors Take Notice
BVP’s memo highlighted how traction can shift investor dynamics. They noted, “We leveraged our connection with Jimmy Wales to catch their attention, but couldn’t ignore that Pinterest had already received multiple term sheets. It was an expensive deal, but the potential justified the price.” They had been following different players in the “social commerce” space, but Pinterest stood out as the first with real, demonstrated success.
3. Let Investors Experience Your Product
Nothing sells a product better than firsthand experience. BVP emphasized that “the best way to understand Pinterest is to use it or at least browse through it.” This approach lets potential backers see the value themselves and builds excitement.
Fast forward to today, Pinterest has grown into a $30 billion company. Kudos to the founders and the BVP team for believing in its potential!
What do you think? Would you pivot if your data suggested a new opportunity?
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3 Lessons from Pinterest's $30 Billion Rise
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