Pinterest Raises $200 Million In Series D Funding Round
The female-focused social network Pinterest has announced a massive $200 million series D funding round. The new money places a $2.5 billion valuation on the massively expanding social network.
The $200 million funding round is led by new investor Valiant Capital Management. Also participating in the social networks newest cash infusion are the usual suspects including Andreessen Horowitz, Bessemer Venture Partners, and FirstMark Capital.
A new series of funding has been rumored for weeks. One big player believed to have been considering a role in the new round of funding was the Walt Disney Company. It now appears that Disney’s role in Series D fundraising fell through.
Pinterest confirmed its $2.5 billion valuation and announced that the money will be used for the hiring of new employees, new product and technology development, better infrastructure, and international growth among other activities.
With Pinterest likely to grow its staff of 100, the company is quickly becoming an even bigger powerhouse in the world of social media.
According to Pinterest CEO Ben Silbermann:
“Our focus is on helping millions of people discover things they love and get inspiration to go do those things in their life. This investment gives us more resources to help realize that vision.”
In the meantime, Pinterest will continue to develop its advertising platforms and more than likely attempt to find new ways to attract broader demographics. A recent study found that more than 90 percent of all Pinterest users are women, typically living in the middle class.
Do you think Pinterest is worth a whopping $2.5 billion?