“Expressing passion for a hobby is just as easy as browsing for your next purchase. But what is even more addictive about the site – a collection of collections – is that it’s just as much about the users as it is about what they’ve posted” – Mashable

As the newest Social Network on the Social Media scene, I, along with my colleagues have invested a lot of time into Pinterest to see if it is worth the hype. I can safely say, it definitely is.

So what is Pinterest? Pinterest is a content curation platform which allows users to organise and share beautiful and interesting content they find on the web.

Pinterest is now the third most popular social network, behind Facebook and Twitter which is a great achievement considering it has only been around for two years. Pinterest has proved its worth by driving more referral traffic than Youtube, LinkedIn, Myspace and Google+ put together.

The Pinterest mobile app has been downloaded over 250,000 times and the newest social network is projected to account for 40% of social media driven purchases (60% Facebook). The current average purchase for Pinterest, is $80.00.

Not only is Pinterest growing at an astounding pace, it is becoming the new “it” network for the sheer appearance and exclusivity as it is an invite only platform (unless you want to apply for an account which can take up to two weeks). Pinterest is retaining and engaging users 2-3 times as efficiently as Twitter was at a similar time in history.

The powerful thing about Pinterest is that it not only gives you the freedom to share your images with your audience, but you can also sell inside of Pinterest with a tool called Pin2Sell. You also have the ability to search for certain products within their sector. As a business, being on Pinterest will work in your favor if you share engaging pictures. You will not receive any “likes” or “repins” for images that aren’t “Pinteresting”.

For a company that has only been on the scene for just over two years, it has been valued at just under $1.5 Billion. This valuation holds its own power. It proves that we respond to visually stimulating images or videos as a way to engage with a business.

There are some great infographics, presentations and blogs out there, giving you a breakdown of some great Pinterest Statistics and tips to utilising Pinterest.