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Pinterest raises USD 200 million, valued at USD 2.5 billion
2013-02-21 09:24:00| Telecompaper Headlines
(Telecompaper) Scrapbooking website Pinterest has raised USD 200 million of funding from first time investor Valiant Capital and existing backers Andreessen Horowitz, Bessemer Venture Partners and FirstMark Capital. The move values Pinterest at USD 2.5 billion. CEO Ben Silbermann said the investment would give Pinterest more resources to help realise its vision "of helping millions of people discover the things they love". Pinterest allows users to make online collages of 'pinned' photos and videos of their interests. The website is free to use, but the company is studying advertising models and is building relationships with businesses, reports the Wall Street Journal. Pinterest has over 100 employees and most recently raised cash in May 2012, drawing USD 100 million in a round led by Japan's Rakuten e-commerce group and valuing it at USD 1.5 billion.
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Category:Telecommunications