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Pinterest Stock Looks Like A Solid Bet Following The Recent Pullback

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Pinterest stock (NYSE: PINS) is down by about 20% from its February highs, trading at levels of around $71 per share currently. This sell-off was driven by a correction in high-growth stocks over the last few weeks amid fears of rising inflation and higher bond yields. However, we think that Pinterest looks like a good buy at current levels. Here’s why.

Pinterest continues to add new users quickly and is getting a lot better at monetizing its base. Over Q4 2020, Pinterest’s active user base grew by 37% year-over-year to 459 million and ARPUs in the U.S. jumped 49% year-over-year, driven by more “shoppable” content and improving advertising capabilities. The company also has a lot of room to scale up globally as international markets represent just 17% of total revenue. Growth should remain strong post-Covid-19 as well, given the company’s unique position in the social media space. Content on Pinterest is focused on projects, hobbies, products, and ideas that are more directly related to buying things. In comparison, platforms such as Facebook are focused on sharing personal information.

Now, although Pinterest stock trades at a relatively high 18x projected 2021 revenues, the company should grow into this valuation quickly. Pinterest’s total revenues are projected to grow by over 48% in 2021 and by about 35% next year, per consensus estimates. Margins – although less of a concern for companies in growth mode – are getting better and Pinterest appears to be on track to becoming a highly profitable company. For perspective, Adjusted EBITDA margins jumped from 19% in Q4 2019 to a solid 42% in Q4 2020.

For more details on Pinterest’s historical performance, see our interactive dashboard Why Pinterest Stock Moved 4x since 2019

[2/8/2021] Overview Of Pinterest’s Q4 2020 Results

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Pinterest (NYSE: PINS) had a solid 2020, with its stock rising by over 3x over the year, as the company was a big beneficiary of Covid-19 related stay-at-home orders, with people spending more time online. Now is the stock poised for further gains? It looks like it. Pinterest’s fundamentals are improving, with Q4 results coming in much stronger than expected. Revenue rose by about 76% year over year to $706 million and the monthly active user base grew by 37% year over year to 459 million. There’s still more room for growth. Pinterest’s audience is expanding beyond its core user base of women (who account for about 60% of users), with an increasing number of men, Gen Z, and Millennials embracing its platform. For example, in Q2 2020 the company reported that the number of men on Pinterest jumped nearly 50% year-over-year. The company has scope for growth in international markets, which represent just 17% of total revenue. Pinterest is also getting better at monetizing its users. Quarterly ARPUs in the U.S. jumped 49% year-over-year over Q4, and this should grow as the company focuses on more “shoppable” content and improves its ad capabilities. Despite the big run-up, Pinterest looks like a decent value.  Although the company’s price to sales multiple has increased to a relatively steep 22x projected 2021 revenues, it is growing fast. Sales grew by 48% last year and are projected to grow by around 38% in 2021, per consensus. In comparison, Snap (NYSE:SNAP) is projected to grow by about 40% this year and trades at about 27x projected Revenue.

See also  How fashion marketplace Jane used social commerce to reach $250 million in annual sales

For more details on Pinterest’s historical performance, see our interactive dashboard Why Pinterest Stock Moved 4.5x since 2019

[12/22/2020] How Is Pinterest Stock Doing?

Back in August, we outlined how the stock of social media company Pinterest (NYSE: PINS) could realistically double over the next 3 years. Turns out, the stock has significantly surpassed our expectations rising by over 2x over the last 5 months alone. So what’s driving the surge and could Pinterest be poised for further gains? Let’s delve a little deeper into Pinterest’s recent performance, current valuation, and outlook.

For more details on Pinterest’s historical performance, see our interactive dashboard Pinterest Stock Grew 3.5x Since 2019. Here’s How.

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Social media players have been big beneficiaries of Covid-19 and related stay at home orders as people spend more time online. As of Q3 2020, Pinterest’s Monthly Active Users base soared 37% year over year to 442 million, with total Revenues growing by about 58% year over year to about $443 million. Moreover, we think Pinterest has barely scratched the surface in terms of monetization of its user base. ARPU stood at roughly $1 globally during Q3, versus over $7 for Facebook (NASDAQ:FB) Now the content on the Pinterest platform is focused on projects, hobbies, products, and ideas that are more directly related to buying things, compared to other platforms such as Facebook which are focused on sharing personal information. For example, users who are looking at home improvement or planning a wedding are likely to head to Pinterest. This should make the platform highly valuable to marketers, driving future revenue, and earnings growth.

While Pinterest’s Price to sales multiple has expanded to over 25x projected 2020 Revenues (from about 15x during our last update in August), this is justified by the company’s stronger than expected growth in recent quarters (Revenue is likely to grow at over 40% over 2020 and 2021) and the fact that it is on track to post a small profit this year. Pinterest is also fairly valued compared to Snap (NYSE:SNAP), another fast-growing social media company – which trades at about 32x projected 2020 Revenue and is likely to post similar levels of growth.

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[Updated 8/14/2020] Pinterest Stock In 2023

Pinterest (NYSE: PINS), a social media website that helps users discover new products and ideas, has seen its stock price rise by about 2x this year, with its market cap standing at roughly $21 billion. The stock now trades at about 14.5x projected 2020 revenues, despite the fact that the company is likely to just about break-even this year. Does this make the stock expensive? Probably not, considering that revenues could grow by close to 2.5x by 2023 if the company continues to execute well, with Net Income (profits after all expenses and taxes) jumping considerably, generating strong returns for shareholders.

Pinterest’s Revenues could grow by roughly 2.5x from estimated levels of a little over $1.45 billion in 2020 to close to $3.5 billion by 2023, representing a growth rate of roughly 34% per year (for context annual growth was over 55% between 2017 and 2019). There are multiple trends that support this continued growth. Firstly, Pinterest’s user base is soaring, with its monthly active users (MAUs) rising 39% to 416 million over Q2 2020 as the Coronavirus pandemic pushed more people online. Moreover, Pinterest has barely scratched the surface in terms of monetization of its user base, with quarterly ARPU standing at $0.70 globally during Q2, versus over $7 for Facebook. [1] The content on the Pinterest platform is focused on products, hobbies, and ideas that are more directly related to buying things, compared to other platforms such as Facebook which are focused on sharing personal information. This makes Pinterest more attractive to advertisers. The company has also been improving its technology to drive monetization, launching new tools such as automatic bidding – which makes it easier for advertisers to manage campaigns, and effectively spend more while adding more new shopping-related features for users. Separately, Facebook – which currently dominates the social media landscape – has been facing mounting pressure on anti-trust and privacy-related issues, and this could likely help Pinterest win over more business from more socially-conscious advertisers.

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While we expect Pinterest to just about break even this year, the company could see profits pick up from 2021 onward as its ad revenues pick up sharply post the Coronavirus, and as the company’s past investments in technology and product development start to pay off. While Facebook posted Net Margins (Net income as a percentage of Revenue)  of over 25% in the last fiscal year, the company is a dominant force in the ad markets, and it is probably not reasonable to expect similar margins of Pinterest. That being said, as Pinterest’s business gains scale, it should be able to boost margins to levels of around 15% by around 2023. Considering our revenue projections of roughly $3.5 billion and 15% margins, $525 million in Net Income is a real possibility by 2023.

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Now if Pinterest’s Revenues expand by 2.5x, the P/S multiple will contract to roughly 0.4x its current level, assuming the stock price stays the same, correct? But that’s exactly what Pinterest investors are betting will not happen! If Revenues expand 2.5x over the next few years, instead of the P/S shrinking from around 14.5x presently to roughly 6x, a scenario where the P/S metric falls more modestly, perhaps to about 11x looks more likely. For context, the broader Internet sector traded at a forward P/S multiple of about 7x, while Facebook trades at roughly 9x. [2] It’s quite reasonable to assume that Pinterest will trade ahead of these companies considering that it’s likely earlier in the growth cycle, with a lot more scope for monetization. This would make growth in Pinterest stock price by about 80% a real possibility in the next three years, taking its market cap to over $38 billion ($3.5 billion in revenue at an 11x multiple). This would translate into a P/E multiple of about 73x based on our projected 2023 earnings for the company.

may have moved, 2020 has created many pricing discontinuities which can offer attractive trading opportunities. For example, you’ll be surprised how counter-intuitive the stock valuation is for Amazon vs Etsy. Another example is Apple vs Microsoft. nnBased on article theme, variations to “While may have moved” can be (a) While may be overvalued (or undervalued) (b) While can move (c) Although may not be attractive (d) While is worth considering”}”>While Pinterest stock may have moved a lot, 2020 has also created many pricing discontinuities that can offer attractive trading opportunities. For example, you’ll be surprised how counter-intuitive the stock valuation is for Amazon vs Etsy. Another example is Apple vs Microsoft.

See all Trefis Price Estimates and Download Trefis Data here

What’s behind Trefis? See How It’s Powering New Collaboration and What-Ifs For CFOs and Finance Teams | Product, R&D, and Marketing Teams

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Social Media Marketing Trends To Watch In 2022

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social-media-marketing-trends-to-watch-in-2022-–-alist-daily

Marketers aren’t clairvoyant but they can keep a finger on the pulse of trends. To help brands stay ahead of the competition, HubSpot Blog surveyed more than 1,000 global marketers from B2B and B2C brands and a handful of industry experts to create a 2022 marketing trends guide, covering privacy and AI to social media and SEO. Ahead we break down HubSpot’s findings on social media marketing trends.

As HubSpot notes, 79 percent of Americans have some type of social media account while there are 3.7 billion social media users worldwide, making it a regular part of people’s lives and a critical tool in enhancing any marketing strategy.

Live Content Will Be A Leading Social Media Format

Among the social media marketers HubSpot polled, 68 percent reported that audio chat rooms such as Clubhouse are the most effective social media content while 59 percent report the same for live video.

Ninety-six percent of those investing in live audio content intend on spending the same amount or more on it through 2022. Live video, on the other hand, is reported by 9 percent of respondents as driving the largest return on investment (ROI) of all social media formats. These formats enable brands to connect directly with audiences in a meet-them-where-they-are context while discussions range from current issues and events to the brand’s stance on those issues to the products and services themselves. 

The authenticity and dynamic nature of this format can’t be matched as heart-to-heart conversations may be interspersed with expert opinions, Q&A-style discussions, how-tos and entertainment.

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TikTok Will Continue To Gain Brand Interest

TikTok began to go viral roughly three years ago, sparking a new medium through which brands can connect with audiences without sounding sales-y. The social media app now boasts 1 billion global users and caters to a vast array of audiences. Having recently launched a number of advertising and marketing features for businesses and creators, TikTok has positioned itself front-and-center in the race to secure the highest quality content, the highest number of users and creators and brands that will continue engaging with it for marketing purposes.

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Sixty-seven percent of marketers intend on increasing their TikTok investment in 2022 and 10 percent of marketers who employ some sort of social media into their overall marketing strategy intend on investing the most in TikTok throughout 2022.

Most Marketers Will Concentrate On Three To Five Social Media Platforms

Of those social media marketers polled, 64 percent use three to five platforms, 11 percent use one or two, and 7 percent use seven or more. Managing three to five platforms allows brands to expand their reach to a variety of audiences while allowing for their marketers to engage with each one without exhausting their bandwidth or producing low-quality content.

In order for a brand to determine how many platforms to be on, i.e., how able a social media marketing team will be at building an effective and engaging strategy, HubSpot suggests answering the following:

  • How many social media marketers are on your team?
  • Which social media platforms have audiences that best align with your brand’s targets?
  • How much time will it take to master a strategy on each of the platforms?
  • Which platforms, if any, will not benefit the overall marketing strategy right now?
  • Which platform’s content, if any, can be easily repurposed? (such as TikTok and YouTube Shorts)

Influencer Marketing Will Evolve From Trend To Common Marketing Tactic

When HubSpot asked global marketing professionals which trends they planned to invest in for 2022, 34 percent said influencer marketing, ranking it first and above other trends like mobile web design and short-form video marketing.

While 57 percent of respondents that currently leverage influencer marketing say influencer marketing is effective, 46 percent of them plan to increase their investments in 2022. Additionally, 11 percent say influencer marketing is the top ROI-generating trend they’ve tested.

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More than 56 percent of marketers who invest in influencer marketing work with micro-influencers, according to HubSpot.

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Video Marketers Will Keep Content Short

HubSpot found that short-form content is the second most effective trend marketers are currently utilizing. Short-form content requires less bandwidth and aligns well with the fast-paced attention spans of online audiences in a variety of demographics

More than 31 percent of global marketers currently invest in short-form video content, 46 percent of them consider the strategy effective when it comes to performance and engagement. In addition, next year 89 percent of global marketers plan to continue investing in it or increase their investment.

Permanent Social Media Posts Could Overtake Ephemeral Content

Brands have observed that permanent social media content—namely standard posts, videos and live events that live on a platform’s feed and can be viewed again days later—might be more effective than ephemeral content such as Instagram Stories and Snapchat.

HubSpot’s survey results show that 44 percent of global marketers plan to increase their investment in permanent social media content, while 8 percent say it generates the most ROI compared to other marketing strategies they leverage. Meanwhile, 25 percent of respondents cited ephemeral content as the “least effective” trend they invested in.

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Lastly, 37 percent of marketers said they plan to decrease their investment in ephemeral content.

However, HubSpot cautions against writing off ephemeral content completely as it can still provide other brand awareness benefits and unique content experiences.

According to Kelly Hendrickson, a social media marketing manager at HubSpot, Instagram Stories’ fleeting design and fun editing options give brands a new strategy for producing content that varies from their other social media content.

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“Instagram can organically serve up a wall post across a wide span of time, so there’s less of an opportunity for brands to be timely (who wants to see New Year’s post when they’ve already given up on their resolutions?!). Since Instagram users are more active on weekdays, during the standard workday, it seems users are looking for a break,” Hendrickson said.

Hendrickson urges marketers to remember that the combination of a running clock and a lively audience presents a big opportunity for brands to lean into quick, in-the-moment content that showcases the light-hearted side of their brand, adding that succinctness and clarity are key in content.

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Getting the Most Out of Shopify

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Getting the Most Out of Shopify

The growth of your online business in Shopify significantly depends on how well you use the e-commerce platform. Unfortunately, it’s not as easy as it sounds. There’s a lot of competition in the e-commerce industry itself, and it requires patience, intentionality and transformational skills to move to the top right in the categories where you compete. Many marketers who use Shopify for eCommerce encounter strategic and tactical issues using the platform. At TopRight, we’ve studied the most common issues facing marketing executives and we provide tips and techniques to help you get the most out of Shopify. Here are a few of the most common marketing challenges you could encounter while using Shopify:

  • Mediocre sales conversion
  • Insufficient traffic to your site
  • Difficulty interpreting Shopify analytics
  • Unrealistic predictions of sales and traffic
  • Misalignment of inventory management
  • Failure to target and identify customers

Importance of a Clear Marketing Strategy

Your marketing strategy acts as a playbook for your business and how you make investments in you Shopify store. It helps keep your business pointed in the right direction and allows you to make informed decisions. Without a strategic marketing playbook, it’s easy to get lost and encounter obstructions. A stragegic playbook can help guide you to responding to challenges and navigating barriers you may encounter with your Shopify store. Specifically, it can help you:

  • Estimate sales potential
  • Promote your goods and services better
  • Attract new customers
  • Maintain good connection with existing customers

Tips on How to Get the Most Out of Shopify

Of course, understanding the analytics on your store isn’t sufficient to assure success. You need to turn data into insight and devise strategies to drive traffic and conversions. Here are a few tips to guide you through the development of a winning marketing strategy to get the most out of Shopify.

1. Invest in Your Own Shopify App

Most successful Shopify merchants have optimized their app to tell their brand story. A Shopify app is a powerful way to give customers a reason to care about your store and the products you offer. Your brand story also helps you build connections and engage with other prospects on other ecommerce platforms and social media sites. Making this simple investment enables you to connect, reach and engage more potential customers.

If building your own app is an obstacle, you can use tools like Pocketfied – an easy app builder that lets you conveniently manage your store. You can have your own published app within a day, even if you don’t have any design and coding skills.

2. Use Shopify Resources

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Shopify offers resources to help you become a more effective marketer and entrepreneur. It provides guides, podcasts, and even an eCommerce University to learn new skills. Use these resources to learn more about the Shopify platform and get ideas on how to work on the platform more effectively and efficiently.

3. Promote Your Store on Social Media

Social media networks like Facebook, Pinterest and Twitter represent significant opportunities for you to boost brand awareness and drive traffic to your store. However, social media marketing is highly saturated – it take a lot to stand out from the crowd. Many Shopify merchants use social media to showcase their goods and services. You need to develop a good and structured approach to get an edge and drive results.

See also  Career Coach: social media tips | firsttuesday Journal
  • Make a business page or account on all relevant social platforms.
  • Follow accounts and market to users within your target audience.
  • Integrate your shop in your accounts so shoppers can easily buy without leaving the social platform
  • Post meaningful content regularly including: videos that showcase your products; special pricing promotions; new product launches; and private/ exclusive store events

4. Leverage Email Marketing

Email remains one of the best ways to connect and engage with customers. When properly used (not abused), emails can serve as the backbone of your customer conversion strategy customer conversion strategy. Here are a few tips on how to use it appropriately:

  • Be creative with your emails so you can easily attract interest and give people a reason to care
  • Send out cart abandonment details to remind customers about incomplete or unfinished transactions.
  • Be professional and respectful – don’t send too many promotional emails. Thoughtless interruptions drive customers away.

5. Create a Website and Start Blogging

Write compelling content that will attract and encourage readers to go to your store and check out your products. Don’t just focus on your products and services. Make content about related topics and issues where you can smartly and smoothly promote your products. Think about topics that would be of interest and value to your audience. Content can be a gift if it is positioned properly with your customers.

Advertisement
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Research what your customers care about, what they want or what unmet needs they may have. Again, don’t overload your blog with sales messages and stories about your business. Instead, focus on the relevance of your products to your customers’ lifestyles. What can you do to make them the hero of your brand story?

6. Invest in Paid Advertisements and Affiliations

Depending on your budget, be sure to set aside some money for paid advertisements. Online advertisements, clickable or not, will drive traffic to your store and boost your store’s visibility. These are usually posted on online platforms like social media sites like Facebook, Instagram, Pinterest, etc. Additionally, you can use Google Ads to get your store to appear on the top page of search results.

You can also develop affiliations with other Shopify stores and businesses so they’ll help promote your store and products. For a small percentage of a transaction, an affiliate marketer with help will drive traffic and potential customers to your store. However, remember that you’ll be sharing your revenues or paying them for their cooperation!

The Takeaway

Story, Strategy and Systems alignment can be a heavy lift when you launch a Shopify store. There are many pitfalls and issues you may encounter. But if you focus on telling a simple story, formulating a clear strategy, and leveraging Shopify best practices, you can navigate these challenges and successfully give your customers a reason to care, listen, engage and buy from your store.

Advertisement
free widgets for website

The growth of your online business in Shopify significantly depends on how well you use the e-commerce platform. Unfortunately, it’s not as easy as it sounds. There’s a lot of competition in the e-commerce industry itself, and it requires patience, intentionality and transformational skills to move to the top right in the categories where you compete. Many marketers who use Shopify for eCommerce encounter strategic and tactical issues using the platform. At TopRight, we’ve studied the most common issues facing marketing executives and we provide tips and techniques to help you get the most out of Shopify. Here are a few of the most common marketing challenges you could encounter while using Shopify:

See also  STI vs STD: Debunking Common Myths about Sexual Health & Safe Sex - Shoreline Media Group
  • Mediocre sales conversion
  • Insufficient traffic to your site
  • Difficulty interpreting Shopify analytics
  • Unrealistic predictions of sales and traffic
  • Misalignment of inventory management
  • Failure to target and identify customers

Importance of a Clear Marketing Strategy

Your marketing strategy acts as a playbook for your business and how you make investments in you Shopify store. It helps keep your business pointed in the right direction and allows you to make informed decisions. Without a strategic marketing playbook, it’s easy to get lost and encounter obstructions. A stragegic playbook can help guide you to responding to challenges and navigating barriers you may encounter with your Shopify store. Specifically, it can help you:

  • Estimate sales potential
  • Promote your goods and services better
  • Attract new customers
  • Maintain good connection with existing customers

Tips on How to Get the Most Out of Shopify

Of course, understanding the analytics on your store isn’t sufficient to assure success. You need to turn data into insight and devise strategies to drive traffic and conversions. Here are a few tips to guide you through the development of a winning marketing strategy to get the most out of Shopify.

1. Invest in Your Own Shopify App

Most successful Shopify merchants have optimized their app to tell their brand story. A Shopify app is a powerful way to give customers a reason to care about your store and the products you offer. Your brand story also helps you build connections and engage with other prospects on other ecommerce platforms and social media sites. Making this simple investment enables you to connect, reach and engage more potential customers.

If building your own app is an obstacle, you can use tools like Pocketfied – an easy app builder that lets you conveniently manage your store. You can have your own published app within a day, even if you don’t have any design and coding skills.

2. Use Shopify Resources

Advertisement
free widgets for website

Shopify offers resources to help you become a more effective marketer and entrepreneur. It provides guides, podcasts, and even an eCommerce University to learn new skills. Use these resources to learn more about the Shopify platform and get ideas on how to work on the platform more effectively and efficiently.

3. Promote Your Store on Social Media

Social media networks like Facebook, Pinterest and Twitter represent significant opportunities for you to boost brand awareness and drive traffic to your store. However, social media marketing is highly saturated – it take a lot to stand out from the crowd. Many Shopify merchants use social media to showcase their goods and services. You need to develop a good and structured approach to get an edge and drive results.

See also  Social Networking Services Market Comprehensive Analysis, Industry Perspective by Application ...
  • Make a business page or account on all relevant social platforms.
  • Follow accounts and market to users within your target audience.
  • Integrate your shop in your accounts so shoppers can easily buy without leaving the social platform
  • Post meaningful content regularly including: videos that showcase your products; special pricing promotions; new product launches; and private/ exclusive store events

4. Leverage Email Marketing

Email remains one of the best ways to connect and engage with customers. When properly used (not abused), emails can serve as the backbone of your customer conversion strategy customer conversion strategy. Here are a few tips on how to use it appropriately:

  • Be creative with your emails so you can easily attract interest and give people a reason to care
  • Send out cart abandonment details to remind customers about incomplete or unfinished transactions.
  • Be professional and respectful – don’t send too many promotional emails. Thoughtless interruptions drive customers away.

5. Create a Website and Start Blogging

Write compelling content that will attract and encourage readers to go to your store and check out your products. Don’t just focus on your products and services. Make content about related topics and issues where you can smartly and smoothly promote your products. Think about topics that would be of interest and value to your audience. Content can be a gift if it is positioned properly with your customers.

Advertisement
free widgets for website

Research what your customers care about, what they want or what unmet needs they may have. Again, don’t overload your blog with sales messages and stories about your business. Instead, focus on the relevance of your products to your customers’ lifestyles. What can you do to make them the hero of your brand story?

6. Invest in Paid Advertisements and Affiliations

Depending on your budget, be sure to set aside some money for paid advertisements. Online advertisements, clickable or not, will drive traffic to your store and boost your store’s visibility. These are usually posted on online platforms like social media sites like Facebook, Instagram, Pinterest, etc. Additionally, you can use Google Ads to get your store to appear on the top page of search results.

You can also develop affiliations with other Shopify stores and businesses so they’ll help promote your store and products. For a small percentage of a transaction, an affiliate marketer with help will drive traffic and potential customers to your store. However, remember that you’ll be sharing your revenues or paying them for their cooperation!

The Takeaway

Story, Strategy and Systems alignment can be a heavy lift when you launch a Shopify store. There are many pitfalls and issues you may encounter. But if you focus on telling a simple story, formulating a clear strategy, and leveraging Shopify best practices, you can navigate these challenges and successfully give your customers a reason to care, listen, engage and buy from your store.

Advertisement
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Ifeoma Ozoma: US tech whistleblower helping others speak out

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ifeoma-ozoma:-us-tech-whistleblower-helping-others-speak-out-–-yahoo-news

Being a whistleblower comes down to careful preparation but also an eye trained for dirty tricks, said Ifeoma Ozoma, an ex-employee of several Silicon Valley giants turned revealer of tech world wrongdoing.

“I planned it like a program or product launch. Obviously the experience is something very personal, but I approached it like work,” she told AFP.

While Facebook whistleblower Frances Haugen has become a figurehead for the fight against social media’s faults, there are others in the tech world, like Ozoma, who have also taken big risks to stand up.

An African-American, former policymaker relations specialist for Google, Pinterest and Facebook, she continues to work for ethics in tech, but from the outside, via her consulting firm Earthseed.

She has marked a first big success via the recent adoption in California of a law she co-sponsored, called “Silenced No More.”

Starting in January, this law will prohibit employers from using confidentiality clauses to prevent victims of harassment or discrimination in the workplace from speaking out.

In mid-October, she posted online a guide for whistleblowers.

“The difference with tech companies and other industries is on the power that they wield, but also they pretend they’re better for workers, consumers, society than more traditional industries,” she told AFP. “That’s just not borne out in reality.”

– Keep the emails –

A Yale University graduate in political science, the 29-year-old was born in Alaska to Nigerian immigrants.

She left Pinterest at the end of May 2020, with six months of salary, after months of making complaints internally and also to the state of California, accusing the social network of discrimination and racist retaliation.

See also  Pinterest Inc. (PINS): The stock short term indicators suggest Buy today

She said the company paid her less than if she had been a man, but she also complained about their lack of action after a colleague posted her personal details online to expose her to anonymous harassment.

In mid-June 2020, as the Black Lives Matter anti-racism movements were in full swing in the United States, her damning account on Twitter of her experience sparked a scandal for the company that had largely avoided controversy.

“Pinterest, told a number of reporters that the CEO had no knowledge of me being doxxed… and I was essentially making up a story about him being aware,” Ozoma said.

“I knew that it was something that would probably come up later. And so I had the emails,” she added.

The accused firms try to discredit whistleblowers by many means, said Libby Liu, the director of Whistleblower Aid which is working with Haugen.

“They will throw up against the wall every discrediting thing they can think of, through like every media organization on the face of the Earth,” she added.

– Losing their health insurance –

The whistleblowers that come forward often have a lot to lose.

“Just one example here in the United States — because our health care is tied to our employment — when you decide to whistle blow, you’re also making a decision for yourself and for your family to lose access to your health insurance,” Ozoma said.

“That is not a small thing to ask of people,” she added.

Whistleblower leaks and damning media reports have tarnished Big Tech’s image, but they have had limited tangible consequences for Silicon Valley.

See also  Social Networking Services Market Comprehensive Analysis, Industry Perspective by Application ...

In fact, Haugen’s oft-repeated accusation that Facebook puts profits over safety is not entirely new.

“There are countless nonprofit organizations and reporters, who reported on the exact same thing for years,” said Ozoma. “It remains to be seen whether anything fruitful will come of it.”

But from anti-sexism protests at Google in 2018 to warnings from former top Facebook officials, the pressure for change is steady.

After Ozoma spoke out at Pinterest, other female workers did too.

The company paid $22 million in December 2020 to Francoise Brougher, its white, former COO to settle a gender discrimination lawsuit.

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