Facebook has launched its own rival to Pinterest sending shares in the social ‘discovery’ platform falling more than four per cent.
Pinterest, which boasts over 250 million users and according to research deliver’s the highest average order values (AOV) for fashion retailers, now has a new rival platform.
Hobbi was released in Spain, Belgium, Ukraine and Colombia by an experimental product team at Facebook last week, according to reports from The Information.
Like Pinterest, Hobbi would allow users to “organize your photos into visual collection and see the progress you’re making over time”.
While details about the new app are thin, Pinterest doesn’t seem to phased by its announcement.
“Upon first look, Hobbi appears to be a photo saving app that lacks the discoverability, search, and recommendations of Pinterest,” a Pinterest spokesperson told CNBC.
“As described in the App Store, it’s meant to help you document and remember the things you do, which is about the past, while Pinterest is about discovering ideas and inspiring action for the future”.
Facebook’s New Product Experimentation Team, which was first revealed last July, said upon its inception:
“We decided to use this separate brand name to help set the appropriate expectations with users that NPE Team apps will change very rapidly and will be shut down if we learn that they’re not useful to people.”
This suggests that should the app not be able to carve out an audience or niche separate from Pinterest it could be scrapped.