Pinterest gets $30 mn investment from SV Angel: report

Venture Capital firm, SV Angel is all set to invest $30 million in the popular photo-sharing site, Pinterest, reports TechCrunch.

The website states that the fund was raised by a Special Purpose Vehicle (SPV) for SV Angel and is reserved to buy secondary shares in Pinterest. TechCrunch confirmed the news with SV Angel co-founder David Lee as well. While private equity does not have a public market to buy and sell their investments in, they are increasingly taking advantage of a growing secondary market of investors who want private equity exposure.

[caption id=“attachment_600565” align=“alignleft” width=“380”] A screengrab of Pinterest.[/caption]

Previously Rakuten, the Japanese e-commerce had invested nearly $1.5 bn in Pinterest, at a $1.5 billion evaluation. SV Angel’s investment is also at the same evaluation, adds the TechCrunch report.

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Pinterest has been one of the biggest growing social media sites for the year 2012. According to a comScore Pinterest was among the top 50 websites in the US for September 2012 and is showing a growth in their traffic.