Despite all the caustic remarks, negative reviews at the start and critics, Pinterest has trumped all odds to emerge as a major social media player in recent months. During its Series D funding round, the company has secured another $200 million, pegging its overall valuation at a whopping $2.5 billion.
Pinterest, the website that lets people share images and videos in a very cool, interactive and fun manner, has been steadily gaining users ever since its launch. It was initially contended by many that the service is merely a hype that will die down soon.
However, Pinterest proved that wrong by continuing to garner popular support and more users over time. Today, the company stands with one of the major players in the social media, in league with the likes of LinkedIn and Twitter. Pinterest recently raised funds to the tune of $200 million during its Series D funding round.
The round was led by Valiant Capital Management and a number of investors took part in it. While raising the funding, the valuation of the company was being pegged at $2.5 billion, which is huge! The company apparently wishes to hire more personnel, expand itself internationally and acquire better infrastructure capabilities with the new funds.
The company’s CEO Ben Sibermann stated at the occasion, “Our focus is on helping millions of people discover things they love and get inspiration to go do those things in their life. This investment gives us more resources to help realize that vision.”
Courtesy: TechCrunch
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