Friday 22 February 2013

Pinterest is valued at $2.5 billion

"Online scrapbook Pinterest has raised a new $200 million round of funding that gives it a valuation of $2.5 billion, the company said on Wednesday.
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 new capital to build new features, beef up its infrastructure, and make "strategic acquisitions of both talent and technology."
Long-short hedge fund Valiant led the investment round, joined by existing investors Andreessen Horowitz, Bessemer Venture Partners and FirstMark Capital. Valiant has invested in several consumer-Internet companies in the past, including search engines Google and Baidu."

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