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Vocabulary: Pinterest - The Facebook killer?

Vocabulary of all kinds is used in this post. Some of the more difficult words that might be new for you are highlighted in bold and then explained below the text in the glossary.

Have you heard of Pinterest? No? Well, it’s the latest in what seems like a never ending list of social networking sites. Dubbed the ‘Facebook killer’ it may also have what it takes to outdo even Twitter and take its place as the king of the internet social experience.

 
How does it work?

Pinterest is basically an online pinboard where users share images of products they like which they ‘pin’ to their boards. Other people can then comment on what their friends have pinned. Thanks to their new widget, appearing on more and more retailer websites day by day, customers can effortlessly browse, pin and repost product images. Imagine completely redecorating your flat using the best items the web has to offer, well with Pinterest you literally have the world wide web at your fingertips.

 
Is it popular?

The numbers speak for themselves as traffic has sky rocketed tenfold over 6 months. In January 2012 alone, Pinterest clocked up 11 million unique visitors, double that of the month before. It now boasts a third as many visitors as Twitter and experts place its value at a cool $200 million.

 
Is it useful for companies?

From a business perspective, Pinterest works, there’s no doubt about it. Smartattire4u Ltd, a small online menswear company, reported a boom in annual revenue from £475,000 to £692,000. It attributes this increase almost exclusively to Pinterest. And they’re not alone, with some others allegedly quadrupling their revenues thanks to Pinterest.

 
What’s the future for Pinterest?

As strange as it may sound, Pinterest isn’t actually profitable and doesn’t appear to know how to become so. You can’t blame the company though, they’re only following in the footsteps of Facebook and Twitter which started with no clear game plan or strategy. It’s hard to believe that the 16 person start-up has no business model at all. For the average business man or woman this would seem unthinkable.

Pinterest co-founder and former Google employee Ben Silbermann claims he’ll worry about the business side later. For now, he remains more concerned with nurturing a valuable service and attracting users but eventually the company will need to turn a profit. How exactly they can do this is still unclear.

 
Here’s a tutorial to teach you how to use Pinterest:
 

 

Vocabulary Phrases

Dubbed
Labelled or named
To have what it takes
To have the abilities/skills & determination to succeed
To outdo someone else
To do something better than sb
To pin sthg to sthg else
To attach sthg with a small nail type object
Widget
A small application that you can install onto a webpage
Effortlessly
Easily without any difficulty
To browse
To look at sthg leisurely
To repost
To write a web page again
Redecorating
To paint/wall paper again
At your fingertips
Easily accessible
The numbers speak for themselves
The statistics are obvious and results can be easily understood
Sky rocketed
Increased at a high level
Tenfold
10 times
Clocked up
Reached a certain level/amount
Boasts
Brags, to say you are great at sth
Menswear
Clothes for men
Boom
A large increase in a short time
Attributes X to Y
Believes the cause of X is Y
Exclusively
Only
Allegedly
Apparently
Quadrupling
Increasing 400%
Following in the footsteps
Copying the idea of someone/thing
Game plan
Strategy
Start-up
A new and small company
Unthinkable
You cannot imagine
Business side
Everything to do with running the company
Nurturing
Developing in a caring manner
To turn a profit
To start making money

 

Discussion questions

 
1)Why is Pinterest popular?

2)How can Pinterest become profitable?

 

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