With the release of its first programming interface for developers, Pinterest has taken its first big step toward a public offering, Fool contributor Tim Beyers says in the following video.

APIs, as they are known, are key for social sites such as Pinterest in that they allow big brands to leverage the data they host. Twitter (NYSE:TWTR) made hay as one of the first to openly share data, and to this day the site still generates 9% of revenue from licensing its data for various uses.

Pinterest, for its part, ranks with both Facebook and Twitter as one of the three biggest sources for referral traffic for other websites. It's also the fastest-growing, up 66.5% in September, according to tracking site Shareaholic.

Could the new API fuel further gains? We can't be sure, but Wal-Mart and Walt Disney are among the early adopter businesses interested. Mix in growing commerce capabilities and a forthcoming push into advertising, and the ingredients for a successful Pinterest IPO are in place, Tim argues.

Do you agree? Would you be interested in purchasing shares were Pinterest to file for an IPO? Watch the video to get Tim's full take and then leave a comment to let us know where you stand.