Pinterest Market Cap (2019–2024)
With more than half a billion active users (and rising), it should come as no surprise that California-headquartered Pinterest currently ranks among the most popular social media networks in the United States.
Globally, Pinterest’s ad revenues are expected to hit $3.7 billion in 2024, marking a 14.1% annual increase. But what does this mean for the company’s valuation? In other words, how much is Pinterest worth?
Pinterest market cap: key highlights
- As of July 2024, Pinterest’s market cap is $29.7 billion, 18.8% higher than its valuation at the end of 2023.
- From 2019 to 2023, Pinterest’s market cap grew by around 2.5 times and at an average annual growth rate of 65.7%.
- The biggest annual increase in Pinterest’s value came in 2020, when its capitalization skyrocketed by 283.4%.
Pinterest market cap (2019–2024): table
|
Year |
Pinterest market cap at year end |
Annual change |
|
2019 |
$10.6 billion |
|
|
2020 |
$40.7 billion |
+283.4% |
|
2021 |
$23.7 billion |
-41.8% |
|
2022 |
$16.5 billion |
-30.5% |
|
2023 |
$25.0 billion |
+51.7% |
|
2024 (as of July 2024) |
$29.7 billion |
+18.8% (from end of 2023) |
Pinterest’s valuation history
A recent analysis of Pinterest’s market cap shows that as of July 2024, the social network is valued at $29.7 billion. This marks an 18.1% increase from its valuation at the end of 2023, which was recorded at $25 billion. Last year, Pinterest grew its worth by 51.7%, the biggest annual increase in three years.
The rise in Pinterest’s market cap in 2023 and in 2024 so far also comes after falling valuation in recent years. A closer look at Pinterest’s valuation history shows that in 2019, the company was valued at $10.6 billion—nearly one-third of its current worth. This figure surged by 283.4% in 2020, to $40.7 billion, as a result of the COVID-19 pandemic, which drove up time spent on social media and propelled new sign-ups. That year, the number of Pinterest users grew by 37% year on year.
However, the rise in Pinterest’s market cap was short-lived, as it was followed by two consecutive years of decline. In 2021, Pinterest’s value dipped by 41.8%, to $23.7 billion, before another fall of 30.5% the year after further shrunk its value to $16.5 billion.
This devaluation came as social media platforms came off their growth momentum spurred by the pandemic. Pinterest aside, other major social networks also experienced user declines and slow growth. This includes Facebook, whose number of daily active users fell for the first time in 18 years. Parent company Meta also saw $390.2 billion wiped off its valuation in 2022, as its market cap fell by 41.7%.