The deal, led by Fidelity Investments,
makes Pinterest one of the most valuable privately held consumer
internet companies just two-and-a-half years after it secured its first
round of venture capital financing in May 2011. Photo: AFP
San Francisco: Pinterest
has won a $225 million round of equity funding that values the virtual
scrapbooking website at $3.8 billion, the company announced on
Wednesday.
The deal, led by Fidelity Investments, makes Pinterest one of the
most valuable privately held consumer internet companies just
two-and-a-half years after it secured its first round of venture capital
financing in May 2011.
Fidelity will not take a board seat as part of the deal, a
person familiar with the deal said. Previous venture capital investors,
including Bessemer Venture Partners, Firstmark Capital, Valiant Capital
Management and Andreessen Horowitz, also participated in the latest
round.
The company said it would use the capital to expand internationally and develop its mobile apps.PGDM 1
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