This article is more than 1 year old
What are your links worth to Pinterest? $11 BEEELLION!
Social network valued by investors at more than three Nests
Social link-sharing site Pinterest has taken in a new round of funding that gives the firm at a hefty US$11bn valuation.
The company said in an SEC filing that it had already agreed to sell off $367,099,927 in equity and hopes to move another $210,816,979 (for a total of around $577.9m) in venture capitol investments.
That sale would, according to the Wall Street Journal, value the entire company at roughly $11bn.
Pinterest said that it has 15 investors lined up, but isn't naming names.
Based on sharing links to pages through "Pins" on user pages, Pinterest only recently found itself generating money as it began selling ad space to retailers who liked the idea of appearing alongside the user-shared content.
This latest valuation comes less than a year after Pinterest raised eyebrows when it sold VCs on a round of funding that valued the firm at $5bn. Just two years ago, the was valued at $2.5bn, less than a quarter of its latest round.
The sky-high valuation would place the company at around one-fourth the value assigned to car service Uber ($41bn) or three times more than the $3.2bn Google shelled out acquire thermostat maker Nest last year. ®
Biting the hand that feeds IT
