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Pinterest set to raise $500mn in funding at an $11bn valuation

Image bookmarking
site Pinterest is reportedly in
talks to raise $500 million in funding, which is expected to increase the value
of the company to $11 billion, reports the Wall
Street Journal,
citing sources.

Image bookmarking
site Pinterest is reportedly in
talks to raise $500 million in funding, which is expected to increase the value
of the company to $11 billion, reports the Wall
Street Journal,
citing sources.

Founded in 2010 by Ben
Silbermann, Evan Sharp
and Paul Sciarra, the company with more than 75
million users globally and a new monetization push, is showing no signs of
slowing down.

The social advertising strategy, where advertisers pay for
photo content appealing to the user that appears in their regular content
stream, is already being pushed out by Facebook and Instagram.

The Pinterest site is built around visual bookmarking or
“pinning,” which allows you to save ideas or share them with friends.

Pinterest is also collaborating with other brands, and last
week rolled out App Pins, which lets a user share and discover Apple’s
iPhone and iPad
applications in an easier way.

In May, Pinterest announced the company had secured $200
million worth of funding, taking its valuation to $5 billion and its total
funding since it was founded to $764 million.

 

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