How White Was Your Valley
Pinterest completed a $200 million funding round that values the company at $2.5 billion. Valiant Capital Management is said to have led the round, with previous investors Andreessen Horowitz, Bessemer Venture Partners and FirstMark Capital also participating. [AllThingsD]
IBM is making a push into mobile, and plans to provide customers with software, data and security services on mobile devices. [NYT]
Calling all youth correspondents: the social network Pheed is said to be gaining in popularity, especially with teens. [Forbes]
Facebook isn’t the only tech company to catch heat for using stock option deductions to avoid paying corporate taxes. The Center for Tax Justice says LinkedIn has used the deduction to avoid paying federal taxes for the last three years. [New York Post]
Eduardo Saverin talked about life after the Facebook, the challenges faces the social media company he helped found, and his decision to move to Singapore. “No, I did not rescind my citizenship for tax purposes,” is what he says. [WSJ]
Funding Ding Ding
The Pew Internet & American Life Project released a new survey on the demographics of social media users yesterday. The nonprofit, nonpartisan “fact tank” says its findings are the “first reportable” survey that it’s put out comparing whites, African-Americans and Latinos on Pinterest, Instagram and Tumblr.
But if you’ve been paying attention to shifting demographics, the results shouldn’t surprise you.
And Then He Pinned Me
Take that, Quentin Hardy: A day The New York Times reporter declared that a billion dollar valuation ain’t what it used to be, word leaked this afternoon that Pinterest is working on a new funding round that will value the firm at $2 to $2.5 billion.
Few social networks are as adroit at triggering man’s aspirational impulse as Pinterest. Of course, different people covet different things. In the case of police departments in fourteen cities–including Pottstown, Penn., Kansas City, Mo. and now Philadelphia–Buzzfeed reports that cops are using Pinterest to advertise what want to catch: criminals.
“Rage Against Rules,” declares a bolded headline in The New York Post today, which collected stats from App Data to paint a portrait of a flailing Instagram. The Post claims that following the terms of service debacle, which supposedly had both normals and celebrities fleeing the app, Instagram’s total active users has plunged 25 percent.
The app reportedly peaked at 16.4 million daily active users the week of Dec. 17, but has decreased to 12.4 million as of Dec. 27.
X(Mas) in Tech
The holidays are upon us! Time to trim the tree and drink some cocoa. For crafty types, though, this is basically the Olympics. This is the main event, the reason they’ve trained so hard for so long. Pinterest is therefore flooded with impossibly intricate, over-the-top DIY projects.
But other than a few twee over-achievers, no one is actually going to try these. You will be too busy drinking eggnog until you fall over and combing Kmart for last-minute gifts.
Start Me Up
Look, it wasn’t any secret that Pinterest was going to reach new heights of D.I.Y. decadence this holiday season. Can you think of a better place to burn workdays looking at wintery craft projects you’ll never, ever complete? But we hadn’t expected anything quite as over-the-top as the newly launched “30 Days of Pinspiration,” Read More
Goooood Morning Silicon Alley!
Marketers know that Pinterest can drive a flood of acquisition-minded traffic. But hammering out a specific strategy is a different matter entirely, and the social network is only just emerging from the earliest, have-the-intern-run-it stages of social media popularity.
“The most followed people don’t necessarily equate to the most effective people,” HelloInsights CEO Kyla Brennan told Betabeat. Her company hopes to help, with its newly launched analytics platform.
And Then He Pinned Me
This is a guest post from Gary Sharma (aka “The Guy with the Red Tie”), founder and CEO of GarysGuide and proud owner of a whole bunch of black suits, white shirts and, at last count, over 40 red ties. You can reach him at gary [at] garysguide.com.
Mayor Bloomberg and the NYCEDC recently launched a prototyping competition, where six lucky winning teams will get an opportunity to prototype new products while receiving studio space from sponsor NYDesigns and mentorship from industry leaders Shapeways, Adafruit Industries, and Honeybee Robotics. Alison Hodgson and Miquela Craytor from the NYCEDC will be at the Hardware Startup Meetup today to explain the competition and take any questions.
Pinterest began rolling out “one of its most frequently-requested features” yesterday: so-called “secret boards,” which let users aspire until their hearts’ content without anyone watching–unless of course they’re into that sort of thing.