Pinterest valued at $11 billion after latest round of funding: report

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

Updated Date: Mar 17, 2015 09:58 AM