Pinterest Raises $150 Million At A $12.3 Billion Valuation To Focus On Visual Search

Pinterest Raises $150 Million At A $12.3 Billion Valuation To Focus On Visual Search. New Data On Tech IPOs Points To More Action In 2017 And A Banner Year For Andreessen Horowitz (Courtesy of Pinterest) Pinterest said on Tuesday that it has raised $150 million in new funding to improve its visual search technology and support global expansion. (Courtesy of Pinterest) Pinterest has raised $150 million in venture funding at a $12.3 billion valuation to help fund visual search and global expansion efforts, the company said on Tuesday. Pinterest reportedly raised its new funding at the same share price as its previous round, an April 2015 Series G, when the company was valued by investors at about $11 billion. Pinterest's "buyable pins" make it easier for users to purchase items on the site, and the company generates revenue from digital advertising. This year, the company expanded its suite of visual search tools with the launch of Lens, which allows users to use their smartphone cameras to search on Pinterest. Pinterest has been pushing into more immersive content formats and expanding its ad offerings. Visual discovery is all about the tools to find the ideas that are your taste and your style." About 60% of users are based outside of the U.S., and Pinterest is working to localize the user experience overseas. Follow me on Twitter @kchaykowski and e-mail me at kchaykowski@forbes.com.

Evan Spiegel’s Net Worth Drops $1 Billion In Minutes After Snap Posts Weak First Quarter
Q&A app Quora valued around $1.8 billion in $85 million fundraise
Jinri Toutiao: How China’s $11 Billion News Aggregator Is No Fake

New Data On Tech IPOs Points To More Action In 2017 And A Banner Year For Andreessen Horowitz

Pinterest launched video advertisements for the first time on Wednesday. (Courtesy of Pinterest)

(Courtesy of Pinterest)

Pinterest said on Tuesday that it has raised $150 million in new funding to improve its visual search technology and support global expansion. (Courtesy of Pinterest)

Pinterest has raised $150 million in venture funding at a $12.3 billion valuation to help fund visual search and global expansion efforts, the company said on Tuesday.

Pinterest reportedly raised its new funding at the same share price as its previous round, an April 2015 Series G, when the company was valued by investors at about $11 billion. Pinterest said it raised its latest funding at a higher valuation than its prior round because the number of shares in the company has increased since that time, in large part due to the issuance of stock to employees as compensation. In February, The Hartford Financial Services Group, a mutual fund and an investor in Pinterest, valued the company at $32.31 per share, a 10% markdown from the Series G investment, according to Pitchbook. The company has raised nearly $1.5 billion to date from investors such as Rakuten, Andreessen Horowitz, Bessemer Venture Partners…

Pin It on Pinterest

Shares
Share This