East pinterest (PINS -0.15%) will finally embrace the e-commerce space? In this music video from “The Future of Fintech” on Motley Fool live, recorded on June 30Fool.com contributors Matt Frankel and Lou Whiteman take a look at the company’s strategy and a new hire who could change the direction of the social media service.
Matt Frankel: We went to Pinterest. We ended up buying a lot of the stuff we saw in the ideas we looked at. It’s a natural choice for e-commerce. I don’t think anyone is denying this, that there’s a lot of e-commerce potential here to sell things on Pinterest.
If I wanted ten best books to read during the summer, I find lists on Pinterest. Why not have a way for people to click and buy those ten books instantly on Amazon (AMZN -0.68%)have you taken care of your summer readings?
But the question is, how do you do it right? There are two things I think we can both agree on. There’s a lot of natural e-commerce potential here, and there’s plenty of room to monetize the Pinterest user base that’s still on the table.
Lou Whiteman: Yeah, absolutely. Maybe just going back to that, the CEO change, because you know, look at everything you said, we’ve been saying for years now, and it just hasn’t been done and I don’t know. Guess we’ll find out now because yeah, we’ve got someone definitely focusing on that. It could be that the wrong person was in the corner office to monetize this. It could be a lot harder than we think.
The interesting thing about that is, I guess with the change with somebody new coming in and that’s their goal, we’ll have a better response to that. Because it’s possible that it’s just a hard problem to solve. It’s possible that the wrong people tried it. We have a new person who should, based on his background, be able to cope better.
John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a board member of The Motley Fool. Lou Whiteman has no position in the stocks mentioned. Matthew Frankel, CFP® has positions at Amazon and Pinterest. The Motley Fool has posts and recommends Amazon and Pinterest. The Motley Fool has a disclosure policy.