After the launch of its mobile apps, Pinterest hasn’t been in the news for quite some time. Now it has been confirmed that the visual social network and pinboard has raised some serious cash in its 4th round of funding.
The company has been reported to have raised $200 million in this round which was led by a new investor called Valiant Capital Management. Other venture capital firms participating in this round were Andreessen Horowitz, Bessemer Venture Partners and Firstmark Capital. Techcrunch reported that the Walt Disney Co. had shown interest in the funding round but it seems that the talks didn’t come to fruition.
Post this funding round the company is now valued at $2.5 billion, which is some serious amounts of cash for a firm which has not even started any monetization yet. There is something about Pinterest and the way it functions that make VCs invest continually in the service. The funds will go into product development, recruiting, M&A and international expansion.
Pinterest raised $10 million from Bessemer Venture Partners in 2011 followed by a $27 million round from Andreessen Horowitz. Japanese firm Rakuten invested $100 million in the firm last year.
Source | Techcrunch