Many believed that content discovery app, Pinterest, was looking to go public soon. But recent reports reveal that Pinterest may have delayed its IPO plans to the next year, at least. Meanwhile, the company’s Billion Dollar Unicorn status continues to thrive.

Pinterest’s Financials

San Francisco-based Pinterest allow users to create, discover, share and collect online scrapbooks. It was launched in 2009 and within 9 months, its user base grew to 17 million monthly active users. More recently, its user base has grown to more than 175 million users.

It is only in the last three years that Pinterest began focusing on monetizing this user base. It earns revenues through ad sales that are generated through Promoted Pins. The Pins let consumers purchase products directly from Pinterest’s partners. Users can see prices, select products and buy those products with the click of a button. After testing the product, Pinterest opened its ad sales platform to all merchants. Since Promoted Pins look like regular pins, they do not distract the user’s attention. Pinterest claims that more than 75% of pins that are saved to Pinterest come from businesses.

Pinterest is privately held and does not disclose detailed financials. It is currently targeting revenues of more than $500 million this year. Some believe that it could earn as much as $600 million this year. It is expected to have earned revenues of $300 million last year and $100 million in 2015. Analysts believe that Pinterest is already profitable.

Pinterest’s Competition

Recently, Pinterest released a new feature called Lens. Lens allows the users to use their camera to search for similar looking decor, clothing, and food in the real world. Users can point their camera at an image and Pinterest will show them similar styles and ideas.

Pinterest is not alone in the visual search segment. Recently listed Snap also released a new feature that uses image recognition to recognize the faces and then applies filters, emoji, and other special effects to these photographs. But now it is integrating augmented reality-like support for recognizing landscapes and objects with the camera.