If you’re one of the many users of Pinterest, you might find it interesting that the company recently raised $200 million in funding. By raising $200 million in funding, the company now has a value of $2.5 billion reports AllThingsD citing sources close to the situation. Previously reports and rumors were flying that the company was trying to raise funding, but that funding is now complete.
The funds Pinterest raised came in a funding round led by Valiant Capital Management. Reports also indicate that existing investors in the company also participated in the funding including Andreessen Horowitz, Bessemer Venture Partners and FirstMark Capital. Pinterest has officially confirmed the funding with company CEO Ben Silbermann stating that the investment would give the company resources to help it realize its vision.
Pinterest is expected to use its new found $200 million to develop the product further and to accelerate international expansion. Expanding internationally would give the website more reach and greater impact. Pinterest has been growing rapidly and recent Pew Research metrics showed that the website was larger than many people think compared to other social networks.
Pinterest currently has about 50 million monthly unique visitors around the world and employs 100 people. Most people will be familiar with Pinterest, the site allows people to pin photos of their favorite things that can be shared with other users. Businesses like the website because content and tends to have a longer lifespan than content shared via social networks like Facebook.