Pinterest Paid Pins?

It has recently come out that Pinterest is asking between $1 million and $2 million from prospective advertisers. This amounts to somewhere between $30 and $40 CPMs, a pretty high figure for online. With this pricing, Pinterest is making it clear that they are looking for high quality advertisements, somewhat like Instagram.

There is no date set out for Pinterest paid ads to hit the social media platform, but it has been talked about since late 2011 early 2012. A spokesperson said, in a statement given to Ad Age, that “We’ve been experimenting with promoted pins with a small numbers of advertisers since last fall. We are continuing these tests, but we don’t have any announcements to make at this time.”

So what do you think? Is Pinterest finally going to give in to promoted pins and paid advertising? (Ad Age)