The seven person company was co-founded by two Yale graduates, former venture capital analyst Paul Sciarra and Ben Silbermann, a former Google advertising product specialist and creator of a YCombinator quiz product.
The idea is that users click on a bookmarklet in their browser when they find images they like on a web page, or they snap a photo with the Pinterest iPhone app, and then they are asked to categorize and describe the images. A collection of categorized images can be built by one person or can be opened up to contributions from other users. Users can then subscribe to an individual collection or to everything another user posts.
Pinterest has tapped into a shift in consumer behavior and purchasing behavior. The shift that is happening is from search to discovery. Everyone talks about this shift, but what does it mean? Click here to read a Q&A.
Pinterest has already pinned down $10M at a $40M valuation. Read the full article.
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