Is Pinterest (PINS +0.43%) finally going to embrace the e-commerce space? In this video clip from "The Future of Fintech" on Motley Fool Live, recorded on June 30, Fool.com contributors Matt Frankel and Lou Whiteman look at the company's strategy and a new hire that could change the direction of the social media service.
Matt Frankel: We went to Pinterest. We eventually ended up buying a lot of things we saw in ideas that we looked at. It's a natural fit for e-commerce. I don't think anyone is denying that, 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 all ten of those books instantly on Amazon (AMZN 1.66%), you have your summer reading taken care of?
But the question is, how do you do it correctly? There's two things that I think we can both agree on. There is a lot of natural e-commerce potential here, and there's a lot of room to monetize Pinterest's user base that is still on the table.
Lou Whiteman: Yeah, absolutely. Maybe just to come back to this, the CEO change, because you know look everything you said we've been saying for years now, and it just hasn't gotten done and I don't know. I guess we'll find out now because yes, we have someone who certainly is focused on that. It could be that just the wrong person was in the corner office to monetize that. It could be it's a lot harder than we're giving it credit for.
The neat thing about this is, I guess with the shift with someone new coming in and that's their focus we'll get a better answer to that. Because it's possible that this just is a hard nut to crack. It's possible that just the wrong people were trying it. We have a new person that should based on his track record, should be able to give a better go of it.
