The company recently filed the S-1 in preparation for its IPO, and disclosed the makeup of its revenues.
While most of the MAU growth is from International region, most of the revenue growth came from monetizing the US customer base. The run rate for which at the end of 2018 was ~$3/user/quarter. This compares to Facebook’s $35/user/quarter in 4Q18.
The question to answer for Pinterest is how far can it grow its monetisation of the American user?