Social Media/Management

Pinterest raises $200m in new funding

Management

00:05, May 16 2014

Fresh backing raises the site’s valuation to $5bn.

Popular interest-sharing website Pinterest has announced it has raise an additional $200 million in investor funding.


The capital would be used in the expansion of its advertising programme, technological investments, and international development, and values the company at around $5bn.

According to Pinterest, participating investors included Bessemer Venture Partners, Andreessen Horowitz, SV Angel, Fidelity, Valiant Capital Partners and FirstMark Capital.

Pinterest previously acquired $225m in Series E funding in October 2013 - with Fidelity Investments playing a lead role - which valued the company then at $3.8bn.

Since its launch in 2009, Pinterest has raised an overall amount of $764m, and many markets are speculating that the firm may soon go public.

The site lets users manage images called pins, as well as other content such as videos and .gif files, on their own personalised media platform.

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