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Pinterest raises another $225 million in funding

Oct 24 2013, 3:53am CDT | by , in News | Technology News

Pinterest raises another $225 million in funding

The wind is blowing at the right direction for the pinboard-style photo sharing service, Pinterest. Sources told AllThingsD earlier today that Pinterest has recently nabbed $225 million in funding, skyrocketing its valuation to $3.8 billion from $2.5 billion earlier this year.

Sources hinted that one of the major investors is Fidelity Investments, an American multinational financial services corporation. Other reported current investors include Andreessen Horowitz, FirstMark Capital, Bessemer Venture Partners, and Valiant Capital Management. It's worth noting that Pinterest already had $200 million in funding in February.

Pinterest CEO, Ben Silbermann, has confirmed the valuation, saying that the huge financing will enable the company to expand its reach internationally and on mobile devices.

"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," Silbermann said.

According to statistics, the social network now has 70 million users worldwide, and has over 2.5-billion page views a month.

Source: AllThingsD

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