Pinterest slated to report its first revenue in 2014

Pinterest CEO Ben Silbermann said he is aiming to turn his quirky online scrapbooking site into a viable business.

Pinterest is set to generate its first revenue this year, when it begins charging advertisers to promote their services, The Wall Street Journal reported Tuesday.

(Read more: Are Facebook's revamped ads a Google killer?)

Advertisers are looking to "have their products or services discovered. We're still learning about the actual creative production process," Silbermann said.

"Pinterest from the beginning was not meant to be a shopping service. It was meant to be a service about your future and your interests. Obviously, products and services are a subset of that," he said.

Click here to read the full report from The Wall Street Journal.