Pinterest Raises $225M Series E
Pinterest is not slowing down any time soon. The heavily female skewed photo pin up social site has just raised another $225 million dollars in their Series E, bringing in the company valuation at over $3 Billion.
As initially reported by the Pinterest CEO:
“We hope to be a service that everyone uses to inspire their future, whether that’s dinner tomorrow night, a vacation next summer, or a dream house someday. This new investment enables us to pursue that goal even more aggressively.”
The service has provided an invaluable visual social tool and inspiration for millions of users. It’s clearly not slowing down anytime soon, with heaps of mobile growth for the company coming in lately.
Here are some stats as released by Pinterest regarding the investment:
- Pinterest will use the additional capital for corporate purposes including:
- International expansion that builds on 125% international growth since the beginning of the year. Pinterest recently launched in UK, France and Italy and plans to launch in 10 more countries before the end of the year.
- Investment in the core Pinterest service, especially mobile which has grown 50% since the beginning of the year to become more than three-fourths of all usage (for comparison, Linkedin just announced 38%).
- Continued development of monetization, which first began testing earlier this month, into a global program.
- Capital investments in technical infrastructure to make the service faster, more reliable and more efficient.