Pinterest Raises $200 Million at $5 Billion Valuation
Pinterest Inc. raised $200 million in a funding round that gives the Web-scrapbooking startup a $5 billion valuation, up from $3.8 billion seven months ago.
The money came from existing investors, including SV Angel, Bessemer Venture Partners, Fidelity Investments, Andreessen Horowitz, FirstMark Capital and Valiant Capital Partners. The new round brings the total raised to $764 million, Pinterest said in an e-mailed statement yesterday.
The funding for Pinterest, which has yet to start generating significant sales, is part of a spate of fundraisings at multibillion-dollar valuations. Uber Inc. is in talks to raise funds at a valuation of $10 billion or more, according to people familiar with the talks, while room-sharing service Airbnb Inc. and online-storage service Dropbox Inc. were valued at $10 billion in their latest fundraising rounds.
“Pinterest has a vision of solving discovery and helping everyone find things they’ll love,” Chief Executive Officer Ben Silbermann said in the statement. “This new investment gives us additional resources to realize our vision.”Read the full article on Bloomberg