February 05, 2013|By Jessica Guynn, Los Angeles Times
….Social media investor Lou Kerner says Pinterest has earned the high valuation. People across the country flock to Pinterest to pin images to virtual boards. Pinterest’s monthly unique user visits shot up to more than 28 million in December, up from 7.5 million a year earlier, according to research firm ComScore. Investors are counting on surging traffic to deliver big revenues down the line.
“Pinterest is rapidly emerging as another major social network, their niche being sharing ‘what I like,’” Kerner said. “Pinterest usage and engagement continue to grow at impressive rates. We’ve seen the other major social networks [Facebook and Twitter], both further along than Pinterest, grow to valuations of $68 billion and $9 billion, respectively. So at $2 billion or $2.5 billion, there is still lots of upside for investors.”
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