in

Pinterest is now valued at $11 billion after raising another $367 million

With $367 million in new funding and a valuation of around $11 billion, Pinterest is now one of the most valuable venture capital-backed startups in the world. The social discovery and visual bookmarking site confirmed the financing on Monday and even expressed its desire to raise an additional $211 million in funding despite having already more than doubled its $5 billion valuation from last May. 

Pinterest Inc. on Monday said it raised $367 million, giving the online site a valuation of $11 billion and making it one of the most highly valued startups by venture capitalists in the world. The latest funding more than doubles Pinterest’s previous valuation of $5 billion from less than a year ago, underscoring the premium investors are placing on the most sought-after companies. The image bookmarking site, which only officially began selling advertising in January, disclosed the funding in a regulatory filing. Pinterest could raise as much as $211 million more and the round is expected to close in a few weeks, according to a company spokesman. Pinterest said new investors have joined the round but declined to name them. Past investors, which previously put in $764 million, include venture-capital firms Bessemer Venture Partners and Andreessen Horowitz, hedge fund Valiant Capital Partners and Japanese e-commerce firm Rakuten Inc.

What do you think?

Avatar of Alfie Joshua

Written by Alfie Joshua

Alfie Joshua is the editor at Auto in the News. Find him on Twitter, and Pinterest.

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

Meerkat’s CEO believes the app will continue to thrive despite Twitter

Xiaomi is developing a pair of smart shoes for fitness