VSCO, a 10-year-old start-up, makes an app for enhancing and sharing photos and movies. In 2019, it grew to become standard with a Generation Z group that got here to be often known as “VSCO girls,” who had been recognized for sporting Crocs and carrying Hydro Flasks. The thought of VSCO women went viral, inspiring social media imitation, mockery, memes and Halloween costumes.
For Pinterest, shopping for a once-buzzy start-up that was standard with youthful audiences and that has experience in photo- and video-editing applied sciences might bolster its core service, the individuals stated.
Since Pinterest went public, its income has grown, although analysts have stated they don’t count on Pinterest to change into usually worthwhile till 2022. It has additionally expanded internationally.
During the pandemic, the company skilled a surge of curiosity as individuals had been locked down and turned to extra digital actions. Pinterest added 100 million month-to-month energetic customers final year and now has a complete of 450 million month-to-month energetic customers.
The San Francisco company additionally confronted social unrest final year. In December, it agreed to pay $22.5 million to settle a gender discrimination and retaliation lawsuit from its former chief working officer, one among the largest publicly introduced particular person settlements for gender discrimination. Two feminine workers of coloration who stop final year additionally publicly mentioned their experiences with racist and sexist feedback, pay inequities and retaliation at the company.