Photo-sharing application company Pinterest has raised $367 million in its latest round of funding, according to a filing with the Securities and Exchange Commission on Monday. The amount raised values the company at $11 billion, The Wall Street Journal reported.
The current round of funding is expected to close in a few weeks, the paper said, citing an unnamed person familiar with the matter.
An earlier report tells us that last year, Pinterest had raised a new $200 million round of funding that gave it a valuation of $5 billion. Pinterest, which allows users to create online bulletin boards based on various themes such as travel, decorating, or sports, said in a statement it would use the capital to invest in technology, develop its advertising program further, and expand internationally.
The company last raised money in October 2013 at a $3.8 billion valuation in a round led by Fidelity Investments.
With inputs from Reuters
Published Date: Mar 17, 2015 09:58 am | Updated Date: Mar 17, 2015 09:58 am