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The notable part is not that they had to pay it. It’s that they chose to pay it. It reveals the magnitude of shift to WFH.
by Hnrobert42 6y ago
The notable part is not that they had to pay it. It’s that they chose to pay it. It reveals the magnitude of shift to WFH.
- HenryBemis 6y agoAssumption: same performance, increased employee satisfaction, lower costs, fewer expenses (company and employees). Companies now just need a skeleton crew for IT Ops, HR, Accounting. Especially for companies like Pinterest that have probably seen their revenue explode, it's a win win win.
- tonyedgecombe 6y agoHas their revenue exploded? I thought advertising revenue was down this year.
- ckdarby 6y agoEtsy & Pinterest are both public companies and this info can be found in their quarterly filings. TL;DR Yes, revenue has increased. Etsy is spending very strong in advertising with Pinterest getting large amounts of it. Disclaimer: Position in both companies.
- tonyedgecombe 6y agoActually it seems to have flattened off: https://www.statista.com/statistics/995107/pinterest-quarterly-revenue-worldwide/ https://www.statista.com/statistics/995107/pinterest-quarter...
- ckdarby 6y agoI didn't entirely write what I meant correctly. Etsy's revenue has greatly increase: https://www.statista.com/statistics/409407/etsy-quarterly-revenue/ https://www.statista.com/statistics/409407/etsy-quarterly-re... A lot of Etsy's money did go to advertising. This has ended up in Pinterest's pocket. The fact Pinterest is flat during covid and entirely being an advertising company I consider still growth of revenue. The global advertising spend has greatly decreased, it'll eventually pick back up. But, yes, you are entirely correct, on a direct statement level, revenue is flat.