Pinterest has raised $225m in an additional funding fund last week, as the social media scrapbook continues to grow in popularity. The funding round was lead by Fidelity, a new investor, and included existing backers Andreessen Horowitz, Bessemer Venture Partners, FirstMark Capital and Valiant Capital Partners. The new round of financing values the company at […]
Pinterest has raised $225m in an additional funding fund last week, as the social media scrapbook continues to grow in popularity.
The funding round was lead by Fidelity, a new investor, and included existing backers Andreessen Horowitz, Bessemer Venture Partners, FirstMark Capital and Valiant Capital Partners.
The new round of financing values the company at $3.8 billion. The company revealed in February that it had reaped $200 million.
Pinterest’s co-founder and chief executive, Ben Silbermann, said in a statement: “We hope to be a service that everyone uses to inspire their future, whether that’s dinner tomorrow night, a vacation next summer, or a dream house someday. This new investment enables us to pursue that goal even more aggressively.”
What that encompasses, according to the company, are a number of things. Among them is international growth, which has topped 125 percent since the beginning of the year.
Pinterest has opened in the UK, France and Italy and aims to begin operating in 10 more countries by year’s end.
The company also aims to bolster its mobile services, which it says have grown 50 percent so far this year.
Pinterest also plans to invest in advertising, since until recently the social network ran no ads. It recently unveiled tests of advertising in the form of “promoted pins” earlier this month.
