Home Business NewsFinance News Three-year-old Pinterest valued at $3.8bn

Three-year-old Pinterest valued at $3.8bn

by LLB Reporter
24th Oct 13 9:21 am

Pinterest has doubled in value in the last 18 months and is now worth $3.8bn, according to its latest funding round.

The visual scrapbook website has just raised $225m in a round led by Fidelity Investments.

Pinterest is still only three years old (although we were tipping it for greatness back in January last year).

“We hope to be a service that everyone uses to inspire their future, whether that’s dinner tomorrow night, a vacation next summer, or a dream house someday,” said Pinterest co-founder and chief executive Ben Silbermann in a statement.

“This new investment enables us to pursue that goal even more aggressively.”

Pinterest raised its first round of VC funding in May 2011. Its most recent round was $200m earlier this year, when the company was valued at $2.5bn.

Previous investors include Firstmark Capital, Valiant Capital, Bessemer Venture Partners Management and Andreessen Horowitz.

Pinterest’s HQ is in San Francisco, but it has recently set up offices in the UK, Italy and France.

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