MarketWatch First Take: Pinterest never considered itself a social network. Until now.

by | Sep 14, 2022 | Stock Market

Since Pinterest was a baby unicorn, co-founder Ben Silberman insisted it was not a social network, and made sure that sentiment echoed through the company. Silberman is no longer chief executive, and suddenly Pinterest
PINS,
+0.69%
is a social-media company. And it’s the nice one.

“Eight out of 10 users said in research that Pinterest makes them feel good versus other forms of social media,” Silberman’s replacement as CEO, Bill Ready, said Wednesday at a Goldman Sachs conference in San Francisco. “In a world where toxicity is driving so much of the internet, when users are ready to unplug … Where do you go when you want to be lifted up and not torn down? Pinterest has that already.” On the same day executives from Facebook parent Meta Platforms Inc.
META,
-1.08%,
Twitter Inc.
TWTR,
+0.38%,
Alphabet Inc.’s
GOOG,
+0.53%

GOOGL,
+0.65%
YouTube and TikTok faced grandstanding, adversarial senators in a committee hearing, Pinterest executives decided Wednesday to pivot from their previous talking point to take advantage of the problems those platforms publicly face with content moderation and toxicity. They plan to make the most of Pinterest’s largely happy online activities — users pinning photos of clothing, home renovation …

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