Photo-sharing
application company Pinterest has raised $367 million in its latest
round of funding, according to a filing with the Securities and Exchange
Commission on Monday. The amount raised values the company at $11
billion, The Wall Street Journal reported.
The
current round of funding is expected to close in a few weeks, the paper
said, citing an unnamed person familiar with the matter.
An
earlier report tells us that last year, Pinterest had raised a new $200
million round of funding that gave it a valuation of $5 billion.
Pinterest, which allows users to create online bulletin boards based on
various themes such as travel, decorating, or sports, said in a
statement it would use the capital to invest in technology, develop its
advertising program further, and expand internationally.
The company last raised money in October 2013 at a $3.8 billion valuation in a round led by Fidelity Investments.
Posted by : Gizmeon
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