Pinterest still has zero revenue, but it's making progress on its model to cash in on all that activity.
It's called "Promoted Pins"—allowing brands to push products they want customers to be sure to see.
"Something we hear from our partners is, 'When our pins are on Pinterest, we see a lot of value, so how do we get more distribution for those pins?' " said Steve Patrizi, the company's head of partner marketing.
Pinterest has been experimenting with allowing companies to promote their pins but hasn't charged for it just yet.
Target has seen a 70 percent increase in traffic from Pinterest to Target.com since rolling out Rich Pins earlier this year, according to Target Chief Marketing Officer Jeff Jones.
"This year we'll rely most heavily on two social platforms: Pinterest and Facebook," he said. "In both places we've found we can really build commerce on the social graph."
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Patrizi said Pinterest is changing how consumers shop—a counterpart to Google, where people know exactly what they're looking for.
"People don't know what they want, they have some notion they need something, but they don't exactly know what it is, they don't know how to search for it," Patrizi says. "When you go to Pinterest it's a discovery experience, it's like walking into a mall. You don't know exactly what you want but then you see something and you know you want it."
With such valuable tools, we expect Pinterest to start charging for them next year.
—By CNBC's Julia Boorstin. Follow her on Twitter: @JBoorstin.
Correction: This story has been updated to reflect that Target saw a 70 percent increase in traffic in the first six weeks after implementing Rich Pins