Pinterest (PINS) Goldman Sachs Communicopia + Technology Conference 2025 summary

Strategic priorities and execution

• Maintained a consistent strategy focused on making the platform a shopping destination using visual search, curation, and AI, resulting in eight consecutive quarters of record user growth and a strong Gen Z presence, now over 50% of users.

• Leveraged unique curation behavior to fuel AI-driven shopping recommendations and performance advertising, driving mid to high teens growth, margin expansion, and improved cash flow.

• Created a flywheel effect by integrating shopping behavior, AI, and visual search, enhancing product-market fit and user relevance.

• Proprietary multimodal visual search models outperform off-the-shelf alternatives by 34 percentage points in shopping relevancy.

• 39% of Gen Z now start their searches on the platform, highlighting the success of visual search and AI initiatives.

Competitive landscape and user engagement

• Focused on owning the visual search space, especially for shopping, rather than competing in general-purpose search.

• Addressed the "I'll know it when I see it" problem, digitizing previously offline shopping experiences and expanding the market.

• Achieved eight straight quarters of record high users, with Gen Z as the fastest-growing demographic.

• Deepened engagement per user, with query and visual search engagement growing faster than user growth.

Product roadmap and AI-driven experiences

• Doubled the relevancy of search results and grew the taste graph by 75% over the past two years.

• Developed AI-enabled shopping assistant experiences, automating user journeys while keeping users in control.

• Balanced ecosystem management to ensure retailer participation and seamless, branded buying experiences.

• Users prefer to remain involved in shopping decisions, with AI assisting but not fully automating the process.