Date
23 November 2017
An online scrapbooking application, Pinterest appeals particularly to women, which makes it an attractive platform for advertisers. Photo: Bloomberg
An online scrapbooking application, Pinterest appeals particularly to women, which makes it an attractive platform for advertisers. Photo: Bloomberg

Pinterest valued at US$11 bln after fundraising

Pinterest Inc. said Monday it had raised US$367 million in venture capital, valuing the online firm at US$11 billion and making it one of the most highly valued start-ups in the world, The Wall Street Journal reported.

The firm, which runs an image bookmarking site that officially began selling advertising in January, disclosed the funding in a regulatory filing.

It could raise as much as US$211 million more in a few weeks, a spokesman said.

Launched in 2010, Pinterest appeals particularly to people interested in arts and crafts and design, especially women. Users “pin” images to “boards” dedicated to various topics.

Its loyal and female-dominated user base makes it an attractive platform for advertisers, the newspaper quoted Matt Britton, chief executive of digital marketing agency MRY, as saying.

Pinterest says it will use the funds for international expansion. 

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CG/FL

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