Pinterest, the latest big thing to hit social media – the idea behind it is simple – an online pin board for you to post interesting pictures and fun and colourful objects.

And yet though it may be a simple concept it seems to be taking the social media scene by storm.

The social network has already been a hit in the UK, with a reported 200,000 unique monthly users – the US already has 12 million.

The site allows you to ‘pin’ images from anywhere on the Internet to your own virtual pin board – whilst also categorising them into themes and interest of your choice.

The site seems to be more popular with women, with many using the categories fashion, home décor and weddings.

It’s gaining rapid interest at present but is it just a new fad, or could it be a real contender for Facebook and Twitter? It’s difficult to predict if its current interest will continue, at the beginning of last year many thought Quora would take on the social media giants.

But the question-and-answer based network did not appeal to the masses, the future of Pinterest will be determined if it can meet a need that is different to what the social media giants offer at present.

Pinterest is already making money by converting pins into affiliate links with ecommerce sites. If you post pictures of some shoes you’re thinking of purchasing, Pinterest could add a link to a partner retailer and the site gets a cut of the subsequent purchase.

At present membership is invite only, so to get on it you need to know someone who is a member or request an invite – but will this add to the hype or just make it a lot of effort to get involved?