Pinterest Raises $150 Million More in Funding, Now Valued at $12 Billion 

At a time when the U.S. economy is undergoing a paradigm shift with new reforms shaping businesses, companies are looking to the government in anticipation of something good for them. Startups have been on the radar of investors for a long time with a series of funding rounds taking place for technology innovation and global expansion. One such privately held startup – Pinterest underwent another round of fundraising with its existing investors.

During this round of funding, Pinterest raised additional capital of $150 million, taking its overall valuation to a whopping $12.3 billion. The 7-year-old startup which provides a digital scrapbook platform, said these funds will be utilized to add more innovation on the technology front with an emphasis on visual technology and global expansion. The San Francisco based company disclosed earlier this year that they are using a new tool called Lens. The benefit of this tool is that it gives a tremendous thrust to the advertising revenue. Pinterest announced in early 2017 that their user base had reached a staggering 175 million, and what surprises everyone is that a majority of their users are outside the USA (nearly 54%).

With this funding in place, the company has postponed its IPO plan for some time as they focus on bolstering their overall business model before going public. With 175 million users already using their platform, the startup is eyeing a $500 million revenue, as shared by people familiar with the situation. Pinterest was completely sidelined as other startups such as Snap and Instagram took the center stage spotlight. With this funding news, however, the startup is back in the limelight and we can expect some innovative changes in their product.

Anirudh M. for TechFunnel.com