Pinterest, a site for sharing and discovering images, has sold $200 million in stock to new and current investors for less than 10 percent of the company, valuing it at $2.5 billion, the company just confirmed to Business Insider.
The Wall Street Journal first reported rumors of a new financing earlier this month, placing the valuation between $2 billion and $2.5 billion.
AllThingsD's Kara Swisher reported the financing earlier on Wednesday.
"Our focus is on helping millions of people discover things they love and get inspiration to go do those things in their life,” Pinterest cofounder and CEO Ben Silbermann said in a statement. "This investment gives us more resources to help realize that vision."
Valiant Capital Management, a hedge fund which owns large stakes in Apple and Google, is leading the round. Valiant founder Christopher Hansen was an early investor in Facebook as well.
No comments:
Post a Comment